Zbaracki, Mark; Bergen, Mark; Levy, Daniel; Ritson, Mark - Department of Economics, Bar Ilan University - 2005
The literature on costs of price adjustment has long argued that changing prices is a complex and costly process. In … fact, some authors have suggested that we should think of firms’ price-setting activities as “producing” prices, similar to … they can improve the efficiency of the “pricing production” activities by both reducing the costs of adjusting prices, and …