The Variances of Wholesale and Retail Prices: Tests of a Marshallian Hypothesis

Andrew Schein

Working Papers from New York University, Leonard N. Stern School of Business, Department of Economics

Abstract: Alfred Marshall hypothesized that retail prices fluctulate less than wholesale prices. This paper presents statistical evidence that supports Marshall's hypothesis. The results from various statistical tests of retail and wholesale prices show that for many goods the variances of retail prices are significantly smaller than the variances of wholesale prices.

Date: 1995-10
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Persistent link: https://EconPapers.repec.org/RePEc:ste:nystbu:95-15

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