| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w16680 |
| 来源ID | Working Paper 16680 |
| Best Prices | |
| Judith A. Chevalier; Anil K. Kashyap | |
| 发表日期 | 2011-01-13 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | We explore the role of strategic price-discrimination by retailers for price determination and inflation dynamics. We model two types of customers, "loyals" who buy only one brand and do not strategically time purchases, and "shoppers" who seek out low-priced products both across brands and across time. Shoppers always pay the lowest price available, the "best price". Retailers in this setting optimally choose long periods of constant regular prices punctuated by frequent temporary sales. Supermarket scanner data confirm the model's predictions: the average price paid is closely approximated by a weighted average of the fixed weight average list price and the "best price". In contrast to standard menu cost models, our model implies that sales are an essential part of the price plan and the number and frequency of sales may be an important mechanism for adjustment to shocks. We conclude that our "best price" construct provides a tractable input for constructing price series. |
| 主题 | Macroeconomics ; Business Cycles ; Industrial Organization ; Market Structure and Firm Performance |
| URL | https://www.nber.org/papers/w16680 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574355 |
| 推荐引用方式 GB/T 7714 | Judith A. Chevalier,Anil K. Kashyap. Best Prices. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w16680.pdf（610KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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