Behavioural theory for pricing

Behavioural theoretical models are hypothetical constructs that aim to understand and explain people’s mental trains of thought (Diller 2008, p. 94). Behavioral theoretical aspects are used in the pricing approaches discussed in this paper to understand how...

What are sticky prices?

The oligopoly is a market form in which there are many buyers but few suppliers. An oligopoly with exactly two suppliers is called a duopoly or dyopoly, while a market where there are also few suppliers and few buyers is called a bilateral oligopoly. Price rigidity...

How to calculate map pricing?

Price control is an economic policy tool for controlling prices on the market, which adds an additional component to supply and demand. The idea behind it is to support certain groups of people and/or companies from the farming community as producers to socially...