PRICE POINTS AND PRICE RIGIDITY

• 成果类型: Article
• 署名作者: Levy, Daniel; Lee, Dongwon; Chen, Haipeng (Allan); Kauffman, Robert J.; Bergen, Mark
• 署名单位: Bar Ilan University; Emory University; Korea University; Texas A&M University System; Texas A&M University College Station; Singapore Management University; University of Minnesota System; University of Minnesota Twin Cities
• 刊物名称: REVIEW OF ECONOMICS AND STATISTICS
• ISSN/ISSBN: 0034-6535
• DOI: 10.1162/REST_a_00178
• 发表日期: 2011-11
• 页码: 1417-1431
• 关键词: adjustment; COSTS; inflation; frequency

摘要

We study the link between price points and price rigidity using two data sets: weekly scanner data and Internet data. We find that 9'' is the most frequent ending for the penny, dime, dollar, and ten-dollar digits; the most common price changes are those that keep the price endings at 9''; 9-ending prices are less likely to change than non-9-ending prices; and the average size of price change is larger for 9-ending than non-9-ending prices. We conclude that 9-ending contributes to price rigidity from penny to dollar digits and across a wide range of product categories, retail formats, and retailers.