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The Paternity of the Price-Quality "Value Map"

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Author Info
Connelly, Luke B

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Abstract

In the literature on firm strategy and product differentiation, consumer price-quality trade-offs are sometimes represented using consumer “value maps”. These involve the geometric representation of indifferent price and quality combinations as points along curves that are concave to the “quality” axis. In this paper, it is shown that the value map for price-quality tradeoffs may be derived from a Hicksian compensated demand curve for product quality. The paper provides the theoretical link between analytical methods employed in the existing literature on firm strategy and competitive advantage with the broader body of economic analysis.

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File URL: http://mpra.ub.uni-muenchen.de/14740/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 14740.

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Date of creation: 2003
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Handle: RePEc:pra:mprapa:14740

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Related research
Keywords: Value map; competitive advantage; quality; price; strategy;

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Find related papers by JEL classification:
D46 - Microeconomics - - Market Structure and Pricing - - - Value Theory
L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
M21 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics - - - Business Economics

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  1. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132. [Downloadable!] (restricted)
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