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Why Are Products Sold on Sale?: Explanations of Pricing Regularities

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  • B. Peter Pashigian
  • Brian Bowen

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.

Suggested Citation

  • B. Peter Pashigian & Brian Bowen, 1991. "Why Are Products Sold on Sale?: Explanations of Pricing Regularities," The Quarterly Journal of Economics, Oxford University Press, vol. 106(4), pages 1015-1038.
  • Handle: RePEc:oup:qjecon:v:106:y:1991:i:4:p:1015-1038.
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