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A theoretical framework for the analysis of variations of the desired mark-ups

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  • Antonio Kandir

Abstract

The objective of this article is to formulate a representation of the price formationprocess which is satisfactorily general, and independent of the special characteristicspropitiated by an occasional situation of low instability, as is implicit in the particularrepresentation synthesized in the rule of a fixed mark-up over direct costs. First of all,the article presents a synthesis of the main arguments presented by post-Keynesians onwhat the author calls the strategic determination of desired mark-ups. He then set out torecuperate the concept of user costs developed by Keynes and which, in his opinion, iswell-suited for representing the expectational determination of desired mark-ups. Finally,the author proposes an analytical integration of these two determinations, given a set of market and economic structures. This integration is summarized in a general formula fordesired mark-ups. JEL Classification: D43.

Suggested Citation

  • Antonio Kandir, 1988. "A theoretical framework for the analysis of variations of the desired mark-ups," Brazilian Journal of Political Economy, Center of Political Economy, vol. 8(4), pages 505-525.
    • Handle: RePEc:ekm:repojs:v:8:y:1988:i:4:p:505-525:id:1111
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    Keywords

    Price formation; mark-ups;

    JEL classification:

    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection

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