Strategic Price Rigidity

L-M Granero

UFAE and IAE Working Papers from Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC)

Abstract: This paper explores how costly price adjustment and strategic interaction may cause a leader-follower configuration to arise. While most imperfect models predict that price-setters will synchronize their moves, we show that leadership generates stable staggering.

Keywords: PRICING; MARKET; MACROECONOMICS; OLIGOPOLIES; PRODUCTION (search for similar items in EconPapers)
JEL-codes: D4 L11 L13 L16 (search for similar items in EconPapers)
Pages: 29 pages
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:aub:autbar:361.96

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