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A sociological view of costs of price adjustment: contributions from grounded theory methods

Managerial and decision economics, 2007-09, Vol.28 (6), p.553-567 [Peer Reviewed Journal]

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Title:
A sociological view of costs of price adjustment: contributions from grounded theory methods
Author: Zbaracki, Mark J.
Subjects: Barley ; Behavioral economics ; Costs ; Econometrics ; Economic costs ; Economic theory ; Empirical evidence ; Grounded theory ; Grounded theory method ; Market prices ; Menu costs ; Price changes ; Price level changes ; Prices ; Studies
Is Part Of: Managerial and decision economics, 2007-09, Vol.28 (6), p.553-567
Description: Economic theory and data sometimes pose problems that cannot be addressed with existing econometric methods. For example, theories of price adjustment costs rely on variables that cannot or have not been observed. In principle, such costs can be measured, but there is little reason to expect they can be measured with existing econometric methods. I argue that the grounded theory methods developed by sociologists can be used to demonstrate the validity of price adjustment costs and to address deeper questions about how firms adjust prices. Properly matched to economic problems, grounded theory may help economists to develop better theory and better test existing theory.
Publisher: Chichester, UK: John Wiley & Sons, Ltd
Language: English
Identifier: ISSN: 0143-6570
EISSN: 1099-1468
DOI: 10.1002/mde.1330
CODEN: MDECDE
Source: Alma/SFX Local Collection
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