haku: @author Wilson, B. J. / yhteensä: 3
viite: 3 / 3
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| Tekijä: | Wilson, B. J. |
| Otsikko: | Menu costs and nominal price friction: An experimental examination |
| Lehti: | Journal of Economic Behavior and Organization
1998 : APR, VOL. 35:3, p. 371-388 |
| Asiasana: | COSTS PRICES MARKETS MONOPOLY |
| Kieli: | eng |
| Tiivistelmä: | The paper examines how menu costs affect monopoly behavior using experimental markets. The research takes a New Keynesian theory of business fluctuations, and tests it in a controlled environment where people are making decisions for real, salient payoffs. These experiments are the first controlled test of a New Keynesian explanation for sticky product prices, and they offer some insights into nominal price frictions. The results from this research indicate that menu costs have real economic effects in a static situation, but not in a dynamic setting. |
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