A theoretical framework for the analysis of variations of the desired mark-ups

Antonio Kandir ()

Brazilian Journal of Political Economy, 1988, vol. 8, issue 4, 505-525

Abstract: The objective of this article is to formulate a representation of the price formationprocess which is satisfactorily general, and independent of the special characteristicspropitiated by an occasional situation of low instability, as is implicit in the particularrepresentation synthesized in the rule of a fixed mark-up over direct costs. First of all,the article presents a synthesis of the main arguments presented by post-Keynesians onwhat the author calls the strategic determination of desired mark-ups. He then set out torecuperate the concept of user costs developed by Keynes and which, in his opinion, iswell-suited for representing the expectational determination of desired mark-ups. Finally,the author proposes an analytical integration of these two determinations, given a set of market and economic structures. This integration is summarized in a general formula fordesired mark-ups. JEL Classification: D43.

Keywords: Price formation; mark-ups (search for similar items in EconPapers)
Date: 1988
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