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Pricing in practice in consumer markets
Stockholm University, Faculty of Social Sciences, The Swedish Institute for Social Research (SOFI).
2020 (English)In: Journal of post Keynesian economics, ISSN 0160-3477, E-ISSN 1557-7821, Vol. 43, no 1, p. 61-75Article in journal (Refereed) Published
Abstract [en]

This article offers a theory of pricing in consumer markets that relates cost-plus pricing and value-based pricing to price competition and price leadership, including, in particular, competitive price leadership as defined by Kenneth Boulding. It also argues that the basic question in Keynesian economics is why firms choose prices such that production is restricted by sales, not why prices, once chosen, can be “sticky.” And finally it shows that a firm’s labor demand depends on its sales at the price it sets and not on its “real wage.”

Place, publisher, year, edition, pages
2020. Vol. 43, no 1, p. 61-75
Keywords [en]
Pricing, cost-plus pricing, value-based pricing, price competition, price leadership, price stickiness, labor demand
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:su:diva-179954DOI: 10.1080/01603477.2019.1616562OAI: oai:DiVA.org:su-179954DiVA, id: diva2:1415193
Available from: 2020-03-17 Created: 2020-03-17 Last updated: 2020-03-18Bibliographically approved

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