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Price Determination in Public Procurement: A Game Theory Approach
Award procedure Bid price Game theory Public procurement
2016/1/27
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
Relative Shocks Relative Price Variability
2015/8/5
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
Microeconomic Rigidities Aggregate Price Dynamics
2015/8/4
Comments on ‘Microeconomic Rigidities and Aggregate Price Dynamics’ by Ricardo Caballero and Eduardo Engle.
How Should Monetary Policy Respond to Shocks while Maintaining Long-Run Price Stability: Conceptual Issues
Monetary Policy Conceptual Issues
2015/8/4
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...
Staggered Price and Wage Setting in Macroeconomics
monetary policy monopolistic competition market clearing
2015/8/4
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 ...
Low Inflation, Deflation, and Policies for Future Price Stability
Monetary policy Inflation Policy rule
2015/8/3
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
Reset prices inflation monetary policy
2015/7/20
Reset Price Inflation and the Impact of Monetary Policy Shocks.
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 ...
Perverse reverse price competition:Average wholesale prices and Medicaid pharmaceutical spending
Medicaid Reimbursement policy Prescription drugs Competition
2015/7/17
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...
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 ...
Behavioral Aspects of Price Setting, and Their Policy Implications
Inflation and Deflation Price Policy Laws and Statutes Consumer Behavior Emotions
2015/4/22
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...
Incorporating Price and Inventory Endogeneity in Firm-Level Sales Forecasting
Technology Industry Clusters Innovation and Invention Geographic Location
2015/4/21
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...