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| Author: | Levy, D. (et al.) |
| Title: | Holiday price rigidity and cost of price adjustment |
| Journal: | Economica
2010 : JAN, VOL. 77:305, p. 172-198 |
| Index terms: | holidays retailing prices USA |
| Language: | eng |
| Abstract: | The Thanksgiving-Christmas holiday period is an important sales period for US retailers. Tasks become more urgent during holidays due to higher store traffic. As a result, the holiday-period opportunity cost of price adjustment may increase dramatically for retail stores. This should lead to greater price rigidity during holidays. The study reveals that prices are more rigid during holiday periods than non-holiday periods. In addition, it is found that the probability of a price change increases with the size of the cost change, during both the holiday and non-holiday periods. These findings are best explained by higher price adjustment costs (menu cost) the retailers face during the holiday periods. |
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