Wouters, in Encyclopedia of Health Economics, 2014 Impact on Competition and Prices Standard microeconomic theory predicts that parallel trade catalyzes price competition. This anticipated price outcome was supported by evidence from Sweden between 1994 and 1999, which showed that prices of drugs exposed...
& Li, W. (2008), Price Discrimination and the Cruise Line Industry: Implications for Market Definition, Competition and Consumer Welfare, International Journal of the Economics of Business, 15 (1), pp. 1–25Langenfeld J, Li W. Price Discrimination and the Cruise Line Industry:Implications for...
perfect competition (redirected fromPrice-taking) Also found in:Financial,Encyclopedia. perfect competition n (Economics)economicsa market situation in which there exists a homogeneous product, freedom of entry, and a large number of buyers and sellers none of whom individually can affect price ...
Define Price currency. Price currency synonyms, Price currency pronunciation, Price currency translation, English dictionary definition of Price currency. n. A rate of exchange. American Heritage® Dictionary of the English Language, Fifth Edition. Cop
Price sensitivity can be explained using the price elasticity of demand, a concept in economics that measures the variation in product demand as the price of the product itself varies. In consumer behavior, price sensitivity describes and measures fluctu
A cut in price by one may lead to an equal reduction by the others, with the result that each firm will retain approximately the same share of the market as before but at a lower profit margin. Competition in oligopolistic industries tends, therefore, to manifest itself in nonprice forms ...
Nevertheless, due to intense competition and technological innovation among these firms, consumers still get oil at low prices. The nature of an industry or market greatly dictates whether firms and individuals are price takers. For example, most consumers in retail markets are, indeed, price takers...
The process by which equilibrium prices are reached is through aprocess of competition. Among sellers to be the low-cost producer to grab the largest market share, and also among buyers to snatch up the best deals. General Equilibrium
The process by which equilibrium prices are reached is through aprocess of competition. Among sellers to be the low-cost producer to grab the largest market share, and also among buyers to snatch up the best deals. General Equilibrium
in which a few firms exert significant control. Price stickiness can be characteristic of oligopolies because firms may hesitate to change raise prices for fear of ceding market share to other firms, but also to lower their prices out of concern that doing so may trigger price competition. ...