In a partial equilibrium setting without price uncertainty, the balanced-budget substitution of an ad valorem tax on … competitive market characterised by uncertainty about the commodity price, if firms can respond to the revelation of demand …

In this paper we show that price equalization alone is not sufficient to determine the barriers to international trade …. There are many barrier combinations that deliver price equalization, but each combination implies a different volume of … goods will deliver price equalization in capital goods, but cannot reproduce the observed trade flows. -- international …

We study price formation in the standard model of consumer search for differentiated products but allow for search cost … important but often neglected aspect of the price mechanism. Recognizing the role the equilibrium price plays in consumers …

In this paper we focus on specification of revenue functions in their dual price space. We consider two distance …, both in price space. The former is multiplicative, satisfying homogeneity, the latter is additive satisfying transitivity …

We analyze price dispersion using panel data from a large price comparison site. We use past pricing behavior to … greater price adjustment costs result in greater price dispersion. Although the impact of price adjustment costs on price … dispersion became weaker over time, the causal effect of price adjustment costs on price dispersion is still present at the end …

overvalues a product attribute - quality or price - that stands out in a particular choice situation. In a highly competitive low-price … environment like on an online platform, consumers focus more on price rather than quality. Especially if the market power of local … (physical) retailers is low, price tends to be salient also in the local store, which is unfavorable for the high …

This paper aims to assess the role of expectations as a determinant of the real price of natural gas. To measure … consistently with the theory of storage (Kilian and Murphy, 2014), the futures spread (Valenti, 2022), and functional shocks … expectations, especially when measured as functional shocks, lead to strong and persistent increases in the real price of natural …

of rare books price indices based on various specifications with a view to identifying the most efficient way of … computing rare book price indices for larger samples of books. Estimating the financial return to investing in rare books in …