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The Relationship Between Managerial Heuristics and Economics in Pricing Retail Meats

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  • Reed, Michael R.
  • Robbins, Lynn W.

Abstract

This study develops a theoretical model of the multiproduct firm which allows for imperfect competition in the output market. Hypotheses are tested for retail meat prices concerning the degree and speed of price transmission, the effects of interfirm competition, and the interrelationship between prices within the store. Empirical results indicated that meat prices within a store were highly interrelated. Further, the firm was found to be very responsive to prices of competitors in the short run, but more responsive to wholesale price changes in the long run.

Suggested Citation

  • Reed, Michael R. & Robbins, Lynn W., 1985. "The Relationship Between Managerial Heuristics and Economics in Pricing Retail Meats," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 17(2), pages 87-96, December.
    • Handle: RePEc:cup:jagaec:v:17:y:1985:i:02:p:87-96_02
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    Cited by:

    1. Andrea MAKINGS & Brian BARNARD, 2019. "The Heuristics of Entrepreneurs," Expert Journal of Business and Management, Sprint Investify, vol. 7(2), pages 179-203.
    2. Unknown, 1990. "Structural Change in Livestock: Causes, Implications, Alternatives," Research Institute on Livestock Pricing 232728, Virginia Polytechnic Institute and State University, Department of Agricultural and Applied Economics.

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