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来源类型Working Paper
规范类型报告
DOI10.3386/w14933
来源IDWorking Paper 14933
Altruistic Dynamic Pricing with Customer Regret
Julio J. Rotemberg
发表日期2009-04-30
出版年2009
语种英语
摘要A model is considered where firms internalize the regret costs that consumers experience when they see an unexpected price change. Regret costs are assumed to be increasing in the size of price changes and this can explain why the size of price increases is less sensitive to inflation than in models with fixed costs of changing prices. The latter predict unrealistically large responses of price changes to inflation for firms that do not frequently reduce their prices. Adjustment costs that depend on the size of price changes also raise the variability on the size of price increases. Lastly, it is argued that the common practice of announcing price increases in advance is much easier to rationalize with regret concerns by consumers than with more standard approaches to price rigidity.
主题Microeconomics ; Households and Firms ; Macroeconomics ; Business Cycles ; Industrial Organization ; Market Structure and Firm Performance
URLhttps://www.nber.org/papers/w14933
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/572609
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GB/T 7714
Julio J. Rotemberg. Altruistic Dynamic Pricing with Customer Regret. 2009.
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