Price formation under asymmetric information
In: Université Catholique de Louvain, Faculté des Sciences Économiques, Sociales et Politiques N.S., 349
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In: Université Catholique de Louvain, Faculté des Sciences Économiques, Sociales et Politiques N.S., 349
In: Eastern European economics: EEE, Band 37, Heft 4, S. 50-69
ISSN: 1557-9298
In: Problems of economics, Band 13, Heft 4, S. 21-35
In: The Economic Journal, Band 43, Heft 170, S. 237
In: Journal of economic dynamics & control, Band 32, Heft 3, S. 956-977
ISSN: 0165-1889
In: CESifo Working Paper Series No. 2374
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In: Surveillance & society: the fully peer-reviewed transdisciplinary online surveillance studies journal, Band 22, Heft 3, S. 248-262
ISSN: 1477-7487
This essay stages an encounter between surveillance studies and the sociology of price and price formation. I argue that surveillance is integral to the calculative operations of retail price strategies, especially during periods of high inflation, and that these calculative operations hinge on the human infrastructure of a precarious data-collecting workforce. I present my argument through a case study of competitor price monitoring, a corporate surveillance practice in which commercial actors record, process, and transmit information on competitors' pricing, inventory, and display strategies. While pricing intelligence services like web-scraping and dynamic pricing algorithms are typically applied in e-commerce settings, I focus here on a firm that specializes in the collection of brick-and-mortar retail price data, with special attention to the labor practices involved in the manual (in-person, device-aided) production of retail price information at the national-industrial scale. Building on auto-ethnographic observations as a price data collector as well as analysis of employee reviews of the firm on sites like Indeed and Glassdoor, I argue that surveillance studies can contribute in significant ways to our understanding of the material practices, and politics, of price and price formation.
In: Journal of economic dynamics & control, Band 20, Heft 8, S. 1307-1337
ISSN: 0165-1889
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Purpose: The purpose of this paper is to present the impact of the most important price formation determinants on the development of air transport. Design/Methodology/Approach: Research on the factors determining the price strategy of carriers is based on available literature, documents developed by IATA and the Civil Aviation Authority, materials of companies constructing Airbus and Boeing aircraft as well as on own empirical research. Findings: The empirical research carried out indicates the crucial importance of quality and price in creating the unique services and added value. The pursuit of strategic policy consists in defining the company's directional goals and areas of its operation, as well as determining the principles of efficiency of allocation and use of assets. It is also necessary to develop the market rules for the price-making process in the management system and specify ways of behaving in crisis situations. Practical implications: The key factor determining the competitive advantage of service providers are modern methods of price formation and improving the quality of services. Data can be compared with other countries. Originality/Value: Since the choice of strategy appropriate for a given enterprise depends on its material situation, assets, management and relations with the environment, in which it operates, in particular the position it occupies on the market, the present study gives an insight in the determination of price formation in a unique way able to be adopted by the air transport industry taking into consideration all aspects mentioned above. ; peer-reviewed
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In: Beckert, Jens, 2011: Where Do Prices Come From? Sociological Approaches to Price Formation. In: Socio-Economic Review 9, 4, 757-786
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In: CESifo Working Paper Series No. 4146
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In: IZA Discussion Paper No. 7225
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