Topic
Limit price
About: Limit price is a research topic. Over the lifetime, 4865 publications have been published within this topic receiving 148546 citations.
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TL;DR: In this paper, the authors examined intercommodity price relationships to assess the relative importance of each of the three major cereals in generating price volatility, and concluded that maize is the most significant in exacerbating price variability with respect to the persistence of shocks to itself and the two other cereals.
Abstract: Cereal price variability in Ethiopia has worsened in recent years, and some of the earlier liberalizations are being reversed due to the unacceptable economic and political costs of increased price variability. The challenge now is to achieve price stability in a cost-effective way. This paper examines intercommodity price relationships to assess the relative importance of each of the three major cereals in generating price volatility. Based on the estimates from a dynamic econometric model, the paper concludes that maize is the most significant in exacerbating price variability with respect to the persistence of shocks to itself and the two other cereals. This implies that focusing on maize, instead of wheat, will not only help better stabilize prices but also reduce costs of stabilization. The results are also discussed in the context of ongoing policy discussions.
48 citations
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TL;DR: In this article, a variant of the Law of One Price (LOP) applied to developed and developing countries was investigated, and the competing hypotheses were (1) that one price prevails in both developed and developed countries, and (2) that a single price in developed countries and another single price on the other hand in developing countries.
Abstract: The Law of One Price (LOP) is important to models of international trade and exchange rate determination. This study investigates a variant of the LOP applied to developed and developing countries. The competing hypotheses are (1) that one price prevails in both developed and developing countries and (2) that one price prevails in developed countries and another single price in developing countries. Using data from an internationally competitive commodity (soybean meal), we found evidence favors the first hypothesis, although two large developing countries under study are active participants in regional trade integration, which may bias them against the first hypothesis.
48 citations
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24 Apr 2002
TL;DR: In this article, a pricing engine that automatically forecasts a price of a tradable commodity so that a quote price can be generated that will remain valid for a pre-defined time window is presented.
Abstract: A pricing engine that automatically forecasts a price of a tradable commodity so that a quote price can be generated that will remain valid for a pre-defined time window. The pre-defined time window is typically a short time interval which is long enough for the user to evaluate the price and trade on it if required. In one implementation, the pricing engine forecasts what the price is likely to be at the end of the pre-defined time window and that forecasted price is then used as the basis for the quote price.
47 citations
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TL;DR: The most important factors that influenced the price development were the number of competitors, whether the drug was originator or generic and the width of the price band.
Abstract: Generic substitution by pharmacists was introduced in April 2003 in Finnish pharmaceutical markets. This article examines the impact of generic substitution on price development. This study examined all of the 2,100 substitutable drugs in Finland. The impact of generic substitution on price competition was significant. The average price of substitutable drugs decreased by more than 10%. However, the price development was uneven; some prices increased whereas others decreased by more than 50%. The most important factors that influenced the price development were the number of competitors, whether the drug was originator or generic and the width of the price band.
47 citations
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TL;DR: In this article, the authors compared price rigidities on the Internet and in traditional brick-and-mortar stores and provided a cross-country perspective on the behavior of Internet prices.
Abstract: This paper studies the behaviour of Internet prices. It compares price rigidities on the Internet and in traditional brick-and-mortar stores and provides a cross-country perspective. The data set covers a broad range of items typically sold over the Internet.It includes more than 5 million daily price quotes downloaded from price comparison web sites in France, Germany, Italy, the UK and the US. The following results emerge from our analysis. First, and contrary to the recent findings for common CPI data, Internet prices in the EU countries do not change less often than online prices in the US. Second, prices on the Internet are not necessarily more flexible than prices in traditional brick-and-mortar stores. Third, there is substantial heterogeneity in the frequency of price change across shop types and product categories. Fourth, the average price change on the Internet is relatively large, but smaller than the respective values reported for CPI data. Finally, panel logit estimates suggest that the likelihood of observing a price change is a function of both state- and time-dependent factors.
47 citations