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The Administered-Price Hypothesis Revisited

Author

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  • David R. Kamerschen

    (University of Georgia)

  • Jae-Hee Park

    (University of Georgia)

Abstract

The relationship between market structure and firms’ pricing behaviour has been a major and controversial issue in industrial economics. The question of how firms’ pricing behaviour differs across market structures is the focus of the administered-price thesis. In this paper the authors review theories providing rationales for the administered-price thesis and their empirical underpinnings, and methodological controversies concerning price series of differnt industries.

Suggested Citation

  • David R. Kamerschen & Jae-Hee Park, 1999. "The Administered-Price Hypothesis Revisited," Zagreb International Review of Economics and Business, Faculty of Economics and Business, University of Zagreb, vol. 2(2), pages 39-56, November.
  • Handle: RePEc:zag:zirebs:v:2:y:1999:i:2:p:39-56
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    More about this item

    Keywords

    administered pricing hypothesis; transaction and list prices; price equation; price rigidity; market structure;

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General

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