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Retail Pricing Format and Rigidity of Regular Prices

Author

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  • Sourav Ray

    (DeGroote School of Business, McMaster University, Canada)

  • Avichai Snir

    (Department of Banking & Finance, Netanya Academic College, Israel)

  • Daniel Levy

    (Department of Economics, Bar-Ilan University, Israel; Department of Economics, Emory University, USA; Rimini Centre for Economic Analysis; Research Centre for Economic Analysis)

Abstract

We study different notions of sale and regular prices, and their variability with store pricing-formats. We use data from three large stores with different pricing-formats (EDLP/Hi-Lo/Hybrid) that are located within 1-km radius. Importantly, the data contain both the actual transaction prices and the actual regular prices as displayed on the store shelves. We combine these data with two “generated” regular price series and study their rigidity. Regular-price rigidity varies with store-formats because different format stores define regular-prices differently. Correspondingly, the meaning of price-cuts varies across store-formats. To interpret the findings, we consider the store pricing format distribution across the US.

Suggested Citation

  • Sourav Ray & Avichai Snir & Daniel Levy, 2021. "Retail Pricing Format and Rigidity of Regular Prices," Working Paper series 21-23, Rimini Centre for Economic Analysis.
  • Handle: RePEc:rim:rimwps:21-23
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    Cited by:

    1. Snir, Avichai & Chen, Haipeng (Allan) & Levy, Daniel, 2022. "Zero-Ending Prices, Cognitive Convenience, and Price Rigidity," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue Forthcomi, pages 1-39.

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    More about this item

    Keywords

    Price Rigidity; Sticky Prices; Regular Prices; Sale Prices; Filtered Prices; Reference Prices; Transaction Prices; Price Cuts; Pricing Format; Every Day Low Price (EDLP); Hi-Lo; Hybrid;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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