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Strategic Price Rigidity


  • Granero, L-M


This paper explores how costly price adjustment and strategic interaction may cause a leader-follower configuration to arise. While most imperfect models predict that price-setters will synchronize their moves, we show that leadership generates stable staggering.

Suggested Citation

  • Granero, L-M, 1996. "Strategic Price Rigidity," UFAE and IAE Working Papers 361.96, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  • Handle: RePEc:aub:autbar:361.96

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    References listed on IDEAS

    1. Barbera, Salvador & Jackson, Matthew O, 1995. "Strategy-Proof Exchange," Econometrica, Econometric Society, vol. 63(1), pages 51-87, January.
    2. Serizawa Shigehiro, 1995. "Power of Voters and Domain of Preferences Where Voting by Committees Is Strategy-Proof," Journal of Economic Theory, Elsevier, vol. 67(2), pages 599-608, December.
    3. Barbera, Salvador & Sonnenschein, Hugo & Zhou, Lin, 1991. "Voting by Committees," Econometrica, Econometric Society, vol. 59(3), pages 595-609, May.
    4. Barbera, Salvador & Sonnenschein, Hugo & Zhou, Lin, 1991. "Voting by Committees," Econometrica, Econometric Society, vol. 59(3), pages 595-609, May.
    5. Sprumont, Yves, 1991. "The Division Problem with Single-Peaked Preferences: A Characterization of the Uniform Allocation Rule," Econometrica, Econometric Society, vol. 59(2), pages 509-519, March.
    6. Shigehiro Serizawa, 1999. "Strategy-Proof and Symmetric Social Choice Functions for Public Good Economies," Econometrica, Econometric Society, vol. 67(1), pages 121-146, January.
    7. Yves Sprumont, 1995. "Strategyproof Collective Choice in Economic and Political Environments," Canadian Journal of Economics, Canadian Economics Association, vol. 28(1), pages 68-107, February.
    8. Barbera, Salvador & Masso, Jordi & Neme, Alejandro, 1997. "Voting under Constraints," Journal of Economic Theory, Elsevier, vol. 76(2), pages 298-321, October.
    9. H. Moulin, 1980. "On strategy-proofness and single peakedness," Public Choice, Springer, vol. 35(4), pages 437-455, January.
    10. Gibbard, Allan, 1977. "Manipulation of Schemes That Mix Voting with Chance," Econometrica, Econometric Society, vol. 45(3), pages 665-681, April.
    11. Alcalde, Jose & Barbera, Salvador, 1994. "Top Dominance and the Possibility of Strategy-Proof Stable Solutions to Matching Problems," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 4(3), pages 417-435, May.
    12. Barbera Salvador & Gul Faruk & Stacchetti Ennio, 1993. "Generalized Median Voter Schemes and Committees," Journal of Economic Theory, Elsevier, vol. 61(2), pages 262-289, December.
    13. Satterthwaite, Mark Allen, 1975. "Strategy-proofness and Arrow's conditions: Existence and correspondence theorems for voting procedures and social welfare functions," Journal of Economic Theory, Elsevier, vol. 10(2), pages 187-217, April.
    14. Gibbard, Allan, 1973. "Manipulation of Voting Schemes: A General Result," Econometrica, Econometric Society, vol. 41(4), pages 587-601, July.
    15. Kim C. Border & J. S. Jordan, 1983. "Straightforward Elections, Unanimity and Phantom Voters," Review of Economic Studies, Oxford University Press, vol. 50(1), pages 153-170.
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    JEL classification:

    • D4 - Microeconomics - - Market Structure, Pricing, and Design
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure


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