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Why Are Products Sold on Sale? Explanations of Pricing Regularities

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Author Info
Pashigian, B Peter
Bowen, Brian
Abstract

This paper reports on interesting changes in markdown pricing practices over time and differences in the pricing within a product line. The price discrimination and the uncertainty hypotheses appear to better explain the data than the peak load hypothesis. Fashion has become more important over time and appears to explain the greater seasonal variation in retail apparel prices in recent years. Differences in uncertainty also explains differences in the pricing of different types of men's dress shirts. Copyright 1991, the President and Fellows of Harvard College and the Massachusetts Institute of Technology.

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Publisher Info
Article provided by MIT Press in its journal Quarterly Journal of Economics.

Volume (Year): 106 (1991)
Issue (Month): 4 (November)
Pages: 1015-38
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Handle: RePEc:tpr:qjecon:v:106:y:1991:i:4:p:1015-38

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  1. Daniel Levy & Georg Müller & Haipeng (Allan) Chen & Mark Bergen & Shantanu Dutta, 2008. "Holiday Price Rigidity and Cost of Price Adjustment," Emory Economics 0802, Department of Economics, Emory University (Atlanta). [Downloadable!]
    Other versions:
  2. Georg Müller & Mark Bergen & Shantanu Dutta & Daniel Levy, 2005. "Private Label Price Rigidity during Holiday Periods," Emory Economics 0512, Department of Economics, Emory University (Atlanta). [Downloadable!]
    Other versions:
  3. Pascal Courty & Li Hao, 1998. "Timing of Seasonal Sales," Economics Working Papers 331, Department of Economics and Business, Universitat Pompeu Fabra. [Downloadable!]
    Other versions:
  4. Medina, Sara & Ward, Ronald W., 1999. "A Model Of Retail Outlet Selection For Beef," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association (IAMA), vol. 2(02). [Downloadable!]
  5. Tom S. Lee & I.P.L. Png, 2004. "Loss Leaders: An Indirect Empirical Test," Industrial Organization 0401008, EconWPA. [Downloadable!]
  6. Markus Mobius & Raphael Schoenle, 2006. "The Evolution of Work," NBER Working Papers 12694, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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