Počet záznamů: 1
Rationally inattentive seller: sales and discrete pricing
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SYSNO ASEP 0461428 Druh ASEP J - Článek v odborném periodiku Zařazení RIV J - Článek v odborném periodiku Poddruh J Článek ve WOS Název Rationally inattentive seller: sales and discrete pricing Tvůrce(i) Matějka, Filip (NHU-N) RID Zdroj.dok. Review of Economic Studies. - : Oxford University Press - ISSN 0034-6527
Roč. 83, č. 3 (2016), s. 1125-1155Poč.str. 31 s. Jazyk dok. eng - angličtina Země vyd. GB - Velká Británie Klíč. slova rational inattention ; nominal rigidity ; sticky prices Vědní obor RIV AH - Ekonomie CEP GPP402/11/P236 GA ČR - Grantová agentura ČR Institucionální podpora NHU-N - RVO:67985998 UT WOS 000381273900008 EID SCOPUS 84991380391 DOI 10.1093/restud/rdv049 Anotace Prices tend to remain constant for a period of time and then jump. In the literature, this “rigidity” is usually interpreted to reflect a cost of adjusting prices. This article shows that price rigidity can alternatively reflect optimal price setting when there are no adjustment costs, namely, if the seller is rationally inattentive. The model generates non-trivial pricing patterns that are consistent with the data and that are hard to explain with the traditional adjustment-cost model. In particular, prices are adjusted frequently but move back and forth between a few given values, hazard functions are downward sloping, and responses to persistent shocks are sluggish. These results are obtained in a model that implements rational inattention without simplifying assumptions on the functional forms of the processed signals. Pracoviště Národohospodářský ústav Kontakt Tomáš Pavela, pavela@cerge-ei.cz, Tel.: 224 005 122 Rok sběru 2017
Počet záznamů: 1