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The article examines mechanism of bid price determination in public procurement by individual tenderers. A game theory approach is used to analyse this process. Firstly, a simple model with two firms ...
Losing the auction at an affordable price generates loser regret. In third price auctions if bidders anticipate loser regret, then in line with the experimental findings, in a symmetric equilibrium t...
Comments on ‘Relative Shocks, Relative Price Variability and Inflation’ by Stanley Fisher.
Comments on ‘Microeconomic Rigidities and Aggregate Price Dynamics’ by Ricardo Caballero and Eduardo Engle.
This paper takes as given the principle that long-run price stability should be the central goal of monetary policy. The purpose of the paper is to discuss conceptual issues pertinent to the task of...
This chapter reviews the role of temporary price and wage rigidities in explaining of the dynamic relationship between money, real output, and inflation. The key properties to be explained are that ...
The effects of three different inflationary environments—high inflation, low inflation, and negative inflation—on real output stability are examined by looking at the experiences of Japan and the U...
The last decade has seen a burst of micro price studies. Many studies analyze data underlying national CPIs and PPIs. Others focus on more granular sub-national grocery store data. We review these stu...
Reset Price Inflation and the Impact of Monetary Policy Shocks.
Controlling the Price Level     price level  monetary policy       2015/7/20
Governments determine the size of the unit of value just as they determine the length of the length and weight of physical units of measure. What are the different ways that a government can control t...
The first result is that the price of attention for similar consumers is actually higher online than offline. In 2008, newspapers earned $2.78 per hour of attention in print, and $3.79 per hour ...
Generic drugs comprise an increasing share of total prescriptions dispensed in the U.S., rising from nearly 50% in 1999 to 75% in 2009. The generic drug market has typically been viewed at the wholesa...
Bride Price and the Returns to Education     Zambia  Indonesia       2015/4/28
Traditional cultural practices can play an important role in development, but can also inspire condemnation. The custom of bride price, prevalent throughout sub-Saharan Africa and in parts of Asia as ...
This paper starts by discussing consumers' cognitive and emotional reaction to posted prices. Cognitively, some consumers do not appear to make effective use of price information to maximize their con...
As numerous papers have argued, sales, inventory, and gross margin for a retailer are interrelated. We construct a simultaneous equation model to establish these interrelationships at a firm level. Us...

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