Normal costs and demand effects in price setting: a study of retailing
August 1988
Article
pp 999-1011.
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The study aims at contributing to the debate whether there are demand effects in models that seek to explain prices as mark-ups on costs. For costs it considers actual costs, normal costs and an intermediate model with a partial adjustment to the deviation of actual from normal costs. For demand effects it considers an effect on the price level of a change of demand, with an allowance for asymmetry between demand growth and demand decline. Tests and estimates are conducted on the basis of data from retailing.
Keywords
Automatically Extracted Terms
- demand
- price
- effect
- market
- nooteboom
- level
- study
- change
- thurik
- model
- margin
- market share
- growth
- demand growth
- percentage
- share
- retailing
- mark-up
- result
- decline
