search query: @author Yang, B. / total: 4
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| Author: | Damania, R. Yang, B. |
| Title: | Prince rigidity and asymmetric price adjustment in a repeated oligopoly |
| Journal: | Journal of Institutional and Theoretical Economics
1998 : DEC, VOL. 154:4, p. 659-679 |
| Index terms: | UNITED KINGDOM OLIGOPOLY ADJUSTMENT COSTS |
| Language: | eng |
| Abstract: | Recent empirical studies suggest that prices in highly concentrated industries tend to be rigid and that pricing is often asymmetric with price rises occurring more frequently than price reductions (DOMBERGER Ä1987Å). Existing explanations of price rigidity and asymmetric pricing assume that firms incur "menu costs" when they adjust their prices. There is, however, little empirical evidence to substantiate this assumption. This paper provides an alternative explanation for the price rigidity. |
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