Levy, Daniel; Young, Andrew T. - In: Journal of Money, Credit, and Banking 36 (2004) 4 (Special Issue), pp. 765-799
limited the Company’s price adjustment options due to limited availability and unreliability of the existing flexible price … adjustment technologies, and (3) a single-coin monetary transaction technology, which limited the Company’s price adjustment … options due to the customer “inconvenience cost.” We show that these price adjustment costs are of a different nature than the …