IDEAS home Printed from
   My bibliography  Save this article

Aggregation methods to calculate the average price


  • Merigó, José M.
  • Palacios-Marqués, Daniel
  • del Mar Benavides-Espinosa, María


Average price is a numerical value that represents a set of prices, which may relate to firms, countries, or regions. This study presents new methods of average price aggregation that build on the unified aggregation operator (UAO). The UAO combines a wide range of sub-aggregation processes into a single formulation capable of accounting for the importance of each concept in the analysis. The aggregation system is flexible, can adapt to different environments, and provides a complete representation of relevant information. The UAO can calculate the average price for numerous geographical contexts such as supranational regions and countries. The study illustrates the UAO's utility by presenting an example of how to calculate the world average price of a product while considering a range of opinions and environmental uncertainties.

Suggested Citation

  • Merigó, José M. & Palacios-Marqués, Daniel & del Mar Benavides-Espinosa, María, 2015. "Aggregation methods to calculate the average price," Journal of Business Research, Elsevier, vol. 68(7), pages 1574-1580.
  • Handle: RePEc:eee:jbrese:v:68:y:2015:i:7:p:1574-1580
    DOI: 10.1016/j.jbusres.2015.01.054

    Download full text from publisher

    File URL:
    Download Restriction: Full text for ScienceDirect subscribers only

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    1. Leone, Robert P. & Robinson, Larry M. & Bragge, Johanna & Somervuori, Outi, 2012. "A citation and profiling analysis of pricing research from 1980 to 2010," Journal of Business Research, Elsevier, vol. 65(7), pages 1010-1024.
    2. Jihui Chen, 2006. "Differences in Average Prices on the Internet: Evidence from the Online Market for Air Travel," Economic Inquiry, Western Economic Association International, vol. 44(4), pages 656-670, October.
    3. Michel Grabisch & Jean-Luc Marichal & Radko Mesiar & Endre Pap, 2011. "Aggregation functions: Means," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00539028, HAL.
    4. Mick Silver & Christos Ioannidis, 2001. "Intercountry Differences in the Relationship between Relative Price Variability and Average Prices," Journal of Political Economy, University of Chicago Press, vol. 109(2), pages 355-374, April.
    5. Johnson, Jennifer Wiggins & Cui, Annie Peng, 2013. "To influence or not to influence: External reference price strategies in pay-what-you-want pricing," Journal of Business Research, Elsevier, vol. 66(2), pages 275-281.
    Full references (including those not matched with items on IDEAS)


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Merigó, José M. & Palacios-Marqués, Daniel & Ribeiro-Navarrete, Belén, 2015. "Aggregation systems for sales forecasting," Journal of Business Research, Elsevier, vol. 68(11), pages 2299-2304.
    2. Merigó, José M. & Palacios-Marqués, Daniel & Zeng, Shouzhen, 2016. "Subjective and objective information in linguistic multi-criteria group decision making," European Journal of Operational Research, Elsevier, vol. 248(2), pages 522-531.


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jbrese:v:68:y:2015:i:7:p:1574-1580. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.