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Pricing in practice in consumer markets

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  • Ante Farm

Abstract

This article offers a theory of pricing in consumer markets that relates cost-plus pricing and value-based pricing to price competition and price leadership, including, in particular, competitive price leadership as defined by Kenneth Boulding. It also argues that the basic question in Keynesian economics is why firms choose prices such that production is restricted by sales, not why prices, once chosen, can be “sticky.” And finally it shows that a firm’s labor demand depends on its sales at the price it sets and not on its “real wage.”

Suggested Citation

  • Ante Farm, 2020. "Pricing in practice in consumer markets," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 43(1), pages 61-75, January.
    • Handle: RePEc:mes:postke:v:43:y:2020:i:1:p:61-75
    DOI: 10.1080/01603477.2019.1616562
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    Cited by:

    1. Edgard Bruno Cornacchione & Luciane Reginato & Joshua Onome Imoniana & Marcelo Souza, 2023. "Dynamic Pricing Models and Negotiating Agents: Developments in Management Accounting," Administrative Sciences, MDPI, vol. 13(2), pages 1-16, February.
    2. Ivan Eryganov & Radovan Šomplák & Dušan Hrabec & Josef Jadrný, 2023. "Bilevel programming methods in waste-to-energy plants' price-setting game," Operational Research, Springer, vol. 23(2), pages 1-37, June.
    3. Prasada, Imade Yoga & Nugroho, Agus Dwi & Lakner, Zoltan, 2022. "Impact of the FLEGT license on Indonesian plywood competitiveness in the European Union," Forest Policy and Economics, Elsevier, vol. 144(C).
    4. Galyna CHORNOUS & Yana FARENIUK, 2021. "Marketing mix modeling for pharmaceutical companies on the basis of data science technologies," Access Journal, Access Press Publishing House, vol. 2(3), pages 274-289, September.

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