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The Setting of Retail Prices in a Customer Market

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  • McDonald, Ian M

Abstract

This paper extends the theory of the determination of retail prices in a customer market to a shop selling many types of goods. For a multigood shop, a discontinuous marginal revenue function for each good sold is derived. Under reasonable assumptions, the size of this discontinuity depends only on the customer dynamics and is independent of own-price elasticities and cross-price elasticities. A discussion of the determination of producer prices shows how the theory can explain the relative stability of retail prices. Copyright 1990 by The Economic Society of Australia.

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Bibliographic Info

Article provided by The Economic Society of Australia in its journal The Economic Record.

Volume (Year): 66 (1990)
Issue (Month): 195 (December)
Pages: 322-28

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Handle: RePEc:bla:ecorec:v:66:y:1990:i:195:p:322-28

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Cited by:
  1. Sibly, H., 1992. "Price Inflexibility in Markets with Repeat Purchasing," Papers 1992-06, Tasmania - Department of Economics.
  2. Ali Choudhary & Thorlakur Karlsson & Gylfi Zoega, 2009. "Survey Evidence on Customer Markets," Birkbeck Working Papers in Economics and Finance 0916, Birkbeck, Department of Economics, Mathematics & Statistics.

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