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| Author: | Dalen, J. van Thurik, R. |
| Title: | A model of pricing behavior: An econometric case study |
| Journal: | Journal of Economic Behavior and Organization
1998 : AUG, VOL. 36:2, p. 177-195 |
| Index terms: | PRICING WHOLESALING EMPIRICAL RESEARCH ECONOMETRICS MODELS |
| Language: | eng |
| Abstract: | Empirical pricing studies are scarce in the modern literature despite their obvious importance for understanding competition. In this study, a structural model is employed to identify deviations of individual pricing routines from the commonly assumed single-period profit maximization. It is applied to individual wholesale firms, because wholesale pricing has a decisive influence on the price formation in the entire economic system and because hardly any research exists in this area. The results show that wholesale firms operate in imperfectly competitive world markets providing a highly differentiated service package. |
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