Price Formation in Various Economies
Author: D C Hague
Publisher: Springer
Published: 2016-01-03
Total Pages: 294
ISBN-13: 1349084670
DOWNLOAD EBOOKRead and Download eBook Full
Author: D C Hague
Publisher: Springer
Published: 2016-01-03
Total Pages: 294
ISBN-13: 1349084670
DOWNLOAD EBOOKAuthor: Association internationale des sciences économiques
Publisher:
Published: 1967
Total Pages: 280
ISBN-13:
DOWNLOAD EBOOKAuthor:
Publisher:
Published: 1964
Total Pages: 0
ISBN-13:
DOWNLOAD EBOOKConference report on a meeting of the international economic association on price formation within the framework of various types of economy - includes records of lectures and discussions on the economic theory of pricing and on pricing practices under capitalist and socialist economic systems, and on relevant econometrics methodology. Conference held in maale hashamisha kibbutz 1964 mar 17 to 24.
Author: Alan Blinder
Publisher: Russell Sage Foundation
Published: 1998-01-08
Total Pages: 412
ISBN-13: 1610440684
DOWNLOAD EBOOKWhy do consumer prices and wages adjust so slowly to changes in market conditions? The rigidity or stickiness of price setting in business is central to Keynesian economic theory and a key to understanding how monetary policy works, yet economists have made little headway in determining why it occurs. Asking About Prices offers a groundbreaking empirical approach to a puzzle for which theories abound but facts are scarce. Leading economist Alan Blinder, along with co-authors Elie Canetti, David Lebow, and Jeremy B. Rudd, interviewed a national, multi-industry sample of 200 CEOs, company heads, and other corporate price setters to test the validity of twelve prominent theories of price stickiness. Using everyday language and pertinent scenarios, the carefully designed survey asked decisionmakers how prominently these theoretical concerns entered into their own attitudes and thought processes. Do businesses tend to view the costs of changing prices as prohibitive? Do they worry that lower prices will be equated with poorer quality goods? Are firms more likely to try alternate strategies to changing prices, such as warehousing excess inventory or improving their quality of service? To what extent are prices held in place by contractual agreements, or by invisible handshakes? Asking About Prices offers a gold mine of previously unavailable information. It affirms the widespread presence of price stickiness in American industry, and offers the only available guide to such business details as what fraction of goods are sold by fixed price contract, how often transactions involve repeat customers, and how and when firms review their prices. Some results are surprising: contrary to popular wisdom, prices do not increase more easily than they decrease, and firms do not appear to practice anticipatory pricing, even when they can foresee cost increases. Asking About Prices also offers a chapter-by-chapter review of the survey findings for each of the twelve theories of price stickiness. The authors determine which theories are most popular with actual price setters, how practices vary within different business sectors, across firms of different sizes, and so on. They also direct economists' attention toward a rationale for price stickiness that does not stem from conventional theory, namely a strong reluctance by firms to antagonize or inconvenience their customers. By illuminating how company executives actually think about price setting, Asking About Prices provides an elegant model of a valuable new approach to conducting economic research.
Author: Organisation for Economic Co-operation and Development
Publisher: Organisation for Economic Co-operation and Development ; Washington, D.C. : OECD Publications and Information Center
Published: 1982
Total Pages: 48
ISBN-13:
DOWNLOAD EBOOKAuthor: International Economic Association
Publisher:
Published: 1966
Total Pages: 281
ISBN-13:
DOWNLOAD EBOOKAuthor: Deirdre N. McCloskey
Publisher:
Published: 1985
Total Pages: 662
ISBN-13:
DOWNLOAD EBOOKAuthor: Sabiou M. Inoua
Publisher: Palgrave Macmillan
Published: 2022-12-06
Total Pages: 0
ISBN-13: 9783031084270
DOWNLOAD EBOOKThis book establishes that neoclassical economics based on the marginal utility calculus failed to derive a theory of consumer market price discovery consistent with the experimental market evidence. Such markets involve inherently discrete final-demand items bought for consumption and not subject to resale. Classical economists following Adam Smith articulated a rich narrative of price discovery theory consistent with experimental evidence based on operational concepts of discrete demand values (maximum willingness-to-pay), and symmetrically, supply costs (minimum willingness-to-accept). We develop and extend a mathematical model of classical market price formation. Chapter 1 & 2 describes this theme and chapter 3 connects it with experiments. Chapter 4 builds on experimental examples for an intuitive overview of the theory. A partial equilibrium version of the theory constitutes Chapter 5. Chapter 6 extends this framework to price formation by wealth constrained agents in multiple-goods markets. Chapter 7 applies this framework to the study of re-tradable durable-goods and financial claims that are subject to sources of instability absent in markets for consumer non-durables.
Author: Paul W. MacAvoy
Publisher: Praeger
Published: 1976
Total Pages: 312
ISBN-13:
DOWNLOAD EBOOKThis study concentrates on the economic reasons for regulation, stating the characteristics of price formation--monoploy price formation and competitive and monopsony price formation--in order to see which corresponds most closely to actul price formation.
Author: Ramazan Gençay
Publisher: Elsevier
Published: 2001-05-29
Total Pages: 411
ISBN-13: 008049904X
DOWNLOAD EBOOKLiquid markets generate hundreds or thousands of ticks (the minimum change in price a security can have, either up or down) every business day. Data vendors such as Reuters transmit more than 275,000 prices per day for foreign exchange spot rates alone. Thus, high-frequency data can be a fundamental object of study, as traders make decisions by observing high-frequency or tick-by-tick data. Yet most studies published in financial literature deal with low frequency, regularly spaced data. For a variety of reasons, high-frequency data are becoming a way for understanding market microstructure. This book discusses the best mathematical models and tools for dealing with such vast amounts of data. This book provides a framework for the analysis, modeling, and inference of high frequency financial time series. With particular emphasis on foreign exchange markets, as well as currency, interest rate, and bond futures markets, this unified view of high frequency time series methods investigates the price formation process and concludes by reviewing techniques for constructing systematic trading models for financial assets.