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Price theory is a powerful analytical toolkit for measuring, explaining, and predicting human behavior in the marketplace. This incisive textbook provides an essential introduction to the subject, offering a diverse array of practical methods that empower students to learn by doing.
1 Origin of Value and Prices Price theory is concerned with explaining economic activity in terms of the creation and transfer of value, which includes the trade of goods and services between difierent economic agents. A puzzling question addressed by price theory is, for example: why is water so cheap and diamonds
Both branches of theory analyze things in the small to further their understanding of things in the large: for example, the demand for cash balances by the individual holder of money, for monetary theory; the demand for bread or coffee utensils by the individual household, for price theory.
7 cze 2012 · The book covers the fundamental principles of pricing, such as price theory in economics, models of consumer demand, game theory, and behavioural issues in pricing, as well as specific pricing tactics such as customized pricing, nonlinear pricing, dynamic pricing, sales promotions, markdown management, revenue management, and auction pricing.
This new seventh edition of the book offers extensive discussion of information, uncertainty, and game theory. It contains over a hundred examples illustrating the applicability of economic analysis not only to mainline economic topics but also issues in politics, history, biology, the family, and many other areas.
INTRODUCTION TO THE PRICING STRATEGY AND PRACTICE. Liping Jiang, Associate Professor Copenhagen Business School 14th December, 2016. Figure source: Scanpix. Open Seminar of the Blue INNOship Project no. 15 Servitization: Creating the market by understanding price, cost, contracts and financing. What. !" What. #" Pricing your product.
We have written a Price Theory textbook based on Economics 301, which is the legendary introductory PhD course in Price Theory, taught at the University of Chicago by Jacob Viner, Milton Friedman, Gary Becker, and Kevin Murphy.
