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Price Points and Price Rigidity

Author

Listed:
  • Daniel Levy

    (RCEA - Rimini Center for Economic Analysis, Emory University [Atlanta, GA], Bar-Ilan University [Israël])

  • Dongwon Lee

    (Korea University [Seoul])

  • Haipeng Allan Chen

    (UK - University of Kentucky)

  • Robert S. Kauffman

    (SIS - Singapore Management University)

  • Mark Bergen

    (Carlson School of Management - UMN - University of Minnesota [Twin Cities] - University of Minnesota System)

Abstract

We study the link between price points and price rigidity using two data sets: weekly scanner data and Internet data. We find that "9" is the most frequent ending for the penny, dime, dollar, and ten-dollar digits; the most common price changes are those that keep the price endings at "9"; 9-ending prices are less likely to change than non-9-ending prices; and the average size of price change is larger for 9-ending than non-9-ending prices. We conclude that 9-ending contributes to price rigidity from penny to dollar digits and across a wide range of product categories, retail formats, and retailers.

Suggested Citation

  • Daniel Levy & Dongwon Lee & Haipeng Allan Chen & Robert S. Kauffman & Mark Bergen, 2011. "Price Points and Price Rigidity," Post-Print hal-02387737, HAL.
    • Handle: RePEc:hal:journl:hal-02387737
    DOI: 10.1162/REST_a_00178
    Note: View the original document on HAL open archive server: https://hal.science/hal-02387737
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    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • M30 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - General

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