Pricing Systems, Indexes and Price Behavior

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This seminal work has a contemporary relevance for modern-day theorists and practitioners. The carefully selected essays provide a core analysis of pricing systems and the behavior and measurement of prices.. "This book will be invaluable to academics, statisticians, and policy-makers with an interest in microeconomics and pricing.
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Editorial Reviews

Presents 16 essays written between 1940 and 1990, devoted to economic theories, their applications to important issues of policy, and their consistency with detailed empirical data. Examines pricing systems and the role of prices in theories of value and income distribution, looks at the problem of measuring price changes over time and space, and discusses the reliability of domestic price statistics. Particular emphasis is placed on inflation between 1950 and 1973 and on price stability and economic growth. Nancy Ruggles was formerly a senior research economist with the Institute for Economic and Social Policy Studies at Yale University. Richard Ruggles is a professor of economics at Yale University. Annotation c. Book News, Inc., Portland, OR
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Product Details

  • ISBN-13: 9781858989938
  • Publisher: Elgar, Edward Publishing, Inc.
  • Publication date: 1/1/1999
  • Pages: 488
  • Product dimensions: 6.42 (w) x 9.48 (h) x 1.34 (d)

Table of Contents

List of Tables and Figures
Pt. 1 Price Theory
1 The Welfare Basis of the Marginal Cost Pricing Principle 3
2 Recent Developments in the Theory of Marginal Cost Pricing 28
3 Discriminatory and Competitive Pricing 54
4 The Value of Value Theory 99
Pt. 2 Price Measurement
5 The Wholesale Price Index 113
6 Measuring the Cost of Quality 126
7 Domestic Price Statistics: Their Reliability as History and Their Usefulness for Economic Policy 134
8 Redundancy in Price Indexes for International Comparisons: A Stepwise Regression Analysis 147
9 Price Indexes and International Price Comparisons 165
10 The Wholesale Price Index: Review and Evaluation 196
Pt. 3 Price Behavior
11 The Relative Movements of Real and Money Wage Rates 293
12 The Nature of Price Flexibility and the Determinants of Relative Price Changes in the Economy 309
13 Price Stability and Economic Growth in the United States 356
14 Chronic Inflation in the United States, 1950-73 382
15 The Anatomy of Earnings Behavior 409
16 The Measurement of the Supply and the Use of Labor 441
Bibliography 465
Index 479
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