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PRICE POINTS AND PRICE RIGIDITY
- Issue Date
- 11월-2011
- Publisher
- MIT PRESS
- Citation
- REVIEW OF ECONOMICS AND STATISTICS, v.93, no.4, pp.1417 - 1431
- Indexed
- SSCI
SCOPUS
- Journal Title
- REVIEW OF ECONOMICS AND STATISTICS
- Volume
- 93
- Number
- 4
- Start Page
- 1417
- End Page
- 1431
- ISSN
- 0034-6535
- Abstract
- We study the link between price points and price rigidity using two data sets: weekly scanner data and Internet data. We find that "9'' is the most frequent ending for the penny, dime, dollar, and ten-dollar digits; the most common price changes are those that keep the price endings at "9''; 9-ending prices are less likely to change than non-9-ending prices; and the average size of price change is larger for 9-ending than non-9-ending prices. We conclude that 9-ending contributes to price rigidity from penny to dollar digits and across a wide range of product categories, retail formats, and retailers.
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