Arbeitspapier

Price Behaviour and Business Behaviour

The present essay is the second in a series of three papers which examine alternative approaches to inflation. Here we identify some of the principal criticisms expressed against neoclassical views on price behaviour and business behaviour. These challenges grew from the early discovery of ‘administered prices’ by Means and the subsequent findings by Hall and Hitch regarding ‘full cost’ pricing. The notions that industrial prices were relatively inflexible and that businessmen set those prices by imprecise rules of thumb stood in sharp contrast to the pristine simplicity of neoclassical models. Yet these attempts for greater realism seemed to undermine the prospects of constructing a coherent theory for prices.

Sprache
Englisch

Erschienen in
Series: Discussion Papers, Department of Economics, McGill University

Klassifikation
Wirtschaft
Thema
administered prices
business objectives
competition
corporate concentration
corporation
full cost
marginalism
market prices
monopoly
oligopoly
price theory
profit
target rate of return

Ereignis
Geistige Schöpfung
(wer)
Nitzan, Jonathan
Ereignis
Veröffentlichung
(wer)
The Bichler and Nitzan Archives
(wo)
Toronto
(wann)
1990

Handle
Letzte Aktualisierung
10.03.2025, 11:42 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Nitzan, Jonathan
  • The Bichler and Nitzan Archives

Entstanden

  • 1990

Ähnliche Objekte (12)