Time- and State-Dependent Pricing: A Unified Framework
نویسندگان
چکیده
منابع مشابه
State-Dependent Pricing under Infrequent Information: A Unified Framework
We characterize optimal state-dependent pricing rules under various forms of infrequent information. In all models, infrequent price changes arise from the existence of a lump-sum “menu cost.” We entertain various alternatives for the source and nature of infrequent information. In two benchmark cases with continuously available information, optimal pricing rules are purely state-dependent. In ...
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We develop a tractable uni ed framework for solving optimal timeand state-dependent price-setting problems. We illustrate our approach by solving a price-setting problem where adjustments are costly, and there are two types of information. One type of information is freely available and ows continuously, while the other type is costly and requires the payment of a lump-sum cost to be obtained....
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2011
ISSN: 1556-5068
DOI: 10.2139/ssrn.1930633