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Author: Eiji Tajika
Publisher:
ISBN:
Category : Developing countries
Languages : en
Pages : 118
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Book Description
Author: Eiji Tajika
Publisher:
ISBN:
Category : Developing countries
Languages : en
Pages : 118
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Book Description
Author: Eytan Sheshinski
Publisher: MIT Press
ISBN: 9780262193320
Category : Business & Economics
Languages : en
Pages : 546
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Book Description
These collected articles constitute what is perhaps the definitive study of pricing models under inflation, providing a solid basis for further research on this elusive question. What are the real effects of inflation? These collected articles constitute what is perhaps the definitive study of pricing models under inflation, providing a solid basis for further research on this elusive question. Covering a broad range of theory and applications by well-known microeconomists, the eighteen contributions evaluate the effects of inflation on aggregate output and on welfare and reveal the scope of recent efforts to explicitly incorporate frictions in economic models. A basic building block common to most of the essays in this volume is the observation that individual firms change nominal prices intermittently. The frequency and size of nominal price changes are influenced by the cost of price adjustment and changes in the economic environment, production costs, market demand, market structure, and most important, inflation. Thus the degree of nominal rigidity is influenced by the economic environment, and in a dynamic context. Two introductory essays survey the empirical studies of pricing policies by individual firms and the theoretical efforts to integrate the nominal rigidities at the micro level into macro relationships. The essays that follow treat the general problem of optimal dynamic adjustment in the presence of convex costs of adjustment, include applications of the inventory models to the case of nominal price adjustment by an individual firm, address the question of aggregation, introduce active search by consumers, and provide empirical analysis of nominal price rigidities.
Author: Gerald M. Meier
Publisher: Johns Hopkins University Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 280
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Book Description
Many economists believe that a major task of development policy is to get prices right. Policy prescriptions frequently emphasize the need for more appropriate pricing systems or a sensible pricing system. But how does one know when prices are right, appropriate, or sensible? What exactly are the policy instruments that policymakers can use to get prices right? This book explores these questions. To indicate how the principles of pricing might be applied to these various problems, the discussion is structured in the following sections. "Elements of a Price System, " explains the components of a price system and relates them to the logic of optimization in a choice problem. "Functions of Prices, " distinguishes the various functions performed by prices and illustrates some consequences of pricing policies. "Properties of Efficiency, " presents an ideal reference model of an efficient economy, so that actual cases of market failure can be compared with the optimal. It also examines how deviations from the ideal market arise and what remedial policies are possible to correct the distortions. "Public Pricing Policy, " outlines contending principles of ideal pricing and considers applications to a range of public services. "Prices, Markets, and Development, " acts as a summary and places the techniques of project appraisal in the wider context of price analysis and investment policy.
Author: Michael Gordon Webb
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 112
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Book Description
Author: Todd Litman
Publisher:
ISBN:
Category : Transportation
Languages : en
Pages : 44
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Book Description
This paper explores the potential of developing more optimal transport prices and markets, and resulting impacts on vehicle travel, consumer costs, environmental and land use impacts, economic development, and social welfare. Optimal pricing must balance economic efficiency, equity and transaction costs. Optimal markets must offer choices and information, minimize distortions, encourage producer competition, and avoid social traps. Current transport prices and markets often fail to meet these criteria. Although distortions may have been justified when transaction costs were high and motor vehicle externalities relatively small, new pricing technologies and increasing concern over external costs justifies increased emphasis on marginal and full-cost pricing, and efforts to eliminate market distortiond. Eleven specific strategies are proposed to create more optimal pricing and markets. These strategies would significanly increase the perceived cost of motor vehicle use while reducing fixed vehicle costs and externalities, increase consumer choices and reduce market distortions. Higher vehicle costs would be offset by reductions in other taxes, consumer expenses, and motor vehicle externalities. Employment, productivity and economic development should increase. Most consumers should benefit verall. Full implementation of those changes is predicted to reduce motor vehicle use by 35%. This indicates that current high levels of automobile use are partly the result of mispricing and market distortions. Consumers reduce automobile travel, given a more optimal market. Current market distortions reduced consumer welfare. Although there are barriers to implementing more optimal pricing and markets, these can be minimized through good planning and management practices which make charges predictable and gradual, maxmize public invlovement, and address specific public concerns.
Author: Timothy Michael Devinney
Publisher: Free Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 440
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Book Description
Author: Marlene Jensen
Publisher: John Wiley & Sons
ISBN: 111843076X
Category : Business & Economics
Languages : en
Pages : 82
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Book Description
Time-tested strategies for making the best possible pricing decisions and gaining an unbeatable competitive advantage Pricing is one of the most important—and difficult—marketing problems companies face when launching new products. Unfortunately, the research that goes into making optimal pricing decisions is a very time-consuming process—unless, that is, you can afford to pay a consultant or outside agency to do it for you. But if you're like most small- to medium-sized business owners and managers, time and money are two things you absolutely don't have to spare. Problem solved: Written by a nationally recognized pricing expert, this book arms you with proven strategies for guaranteeing that you'll never again leave money on the table when determining prices. And you'll spend the least possible time setting your more profitable prices. Packed with valuable worksheets and other valuable tools to help guide your research and your pricing decision-making A goldmine of expert tips for pricing in any specialty market, it offers a highly effective way to market your company's product more effectively and profitably Shows you how to avoid making your competitors' pricing mistakes and gain a powerful competitive edge in the process The author uses examples drawn from her years of consulting work with companies large and small, including Food Network, American Express Publishing, and Playboy
Author: Mohammad G. Nejad
Publisher:
ISBN:
Category :
Languages : en
Pages : 32
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Book Description
Purpose - This study explores optimal pricing strategies for innovations with direct network externalities. The utility of these innovations increases with the number of adopters and thus the innovation takeoff requires a certain number of adopters. Design/methodology/approach - Agent-based Modeling and Simulation.Findings - The relationship between price and NPV of revenue resembles an asymmetric inverse U-shape. Low-pricing strategy outperforms high-pricing, while a moderate pricing strategy outperforms both low- and high-pricing strategies. Moreover, heterogeneity of consumer price sensitivity positively affects NPV of sales.Practical implications - Pricing durable new products with network externalities are more challenging than other types of innovations. The price pattern of most new durable products are out of the control of firms and historical data indicates that the price of such innovations drops over time which further highlights the importance of their introductory pricing. The results indicate that firms can maximize their NPV by adopting a moderate pricing strategy. Moreover, firms must consider heterogeneity of consumer price sensitivity along with the market price elasticity when making pricing decisions. Detailed strategic implications and recommendations are discussed.Originality/value - Several recent studies have called for studying pricing strategies for new products with network externalities. The study findings challenge the common wisdom that a penetration pricing strategy is an optimal approach for durable products with network externalities. Moreover, while other studies have highlighted the importance of market price elasticity, extensive simulation experiments conducted in this study shows that heterogeneity of consumer price sensitivity is an important factor that must be considered. Finally, the study presents an agent-based modeling approach for exploring optimal pricing innovations with network externalities.
Author: Antonio Jorge
Publisher: Praeger
ISBN:
Category : Business & Economics
Languages : en
Pages : 280
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Book Description
An understanding of price structures and their impact on trade, productivity, and other related factors will aid in formulation of price policies promoting economic growth and development. Price formulation issues are examined within the context of nonmarket and imperfect market conditions, providing insightful linking of exchange rates and domestic prices to a wide array of factors that determine economic growth. Different facets of primary commodity price formation are explored, arriving at such conclusions as the fact that the dramatic rise in oil prices during the 1970s had little to do with the Latin American debt crisis or with the world recession that followed. Some new techniques for analysis are used, and commonly used techniques in price comparison studies are discussed.
Author: Kalyan T. Talluri
Publisher: Springer Science & Business Media
ISBN: 0387273913
Category : Business & Economics
Languages : en
Pages : 731
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Book Description
Revenue management (RM) has emerged as one of the most important new business practices in recent times. This book is the first comprehensive reference book to be published in the field of RM. It unifies the field, drawing from industry sources as well as relevant research from disparate disciplines, as well as documenting industry practices and implementation details. Successful hardcover version published in April 2004.
