Comments on "Ecomonic Foundations for Pricing"

Article Abstract:

Research on segmentation and information economics is used to pinpoint marketing problems. Segmentation involves developing a brand portfolio for various population segments or pricing differentiation for segments. Variables affecting demand elasticity in a household context are used to pinpoint devices which price-elastic households will be attracted to. Retail incentive to handle trading stamps is reviewed. A utility-maximization model is employed to study the effects of cents-off coupons. Generally, use of coupons implies a greater price-elastic demand. Inventory costs are identified as strongly related to bundling strength. Firms unable to delineate their kinds of consumers can employ a nonlinear pricing schedule to raise profits. Short-term reduced price deals are regarded as a randomizing strategy, where businesses with monopoly hold price discrimination between informed and uninformed customers. In all, new research directions can serve to reduce guesswork in pricing and marketing strategy.

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The Maximum Likelihood Estimation of Security Price Volatility: Theory, Evidence, and Application to Option Pricing

Article Abstract:

This research focuses on the derivation of maximum likelihood estimators of security price volatility founded on daily high, low and closing prices. A meaningful application of security price volatility estimation is option price estimation, which calls for a derivation of the Black-Scholes call option price and furnishes the greatest level of statistic efficiency. Asymptotic properties of price volatility are found. Small-sample properties of classical maximum likelihood estimators are identified. Controlled simulation may well solve the issue of vagueness in error properties. Error elements of Black-Scholes call option price estimators are figured, and maximum confidence intervals are developed. Comparisons are drawn between the intervals functional in Black-Scholes and Boyle-Ananthanarayanan research. Security price logarithms are based on a nonstandardized Wiener method. Tables of security volatility estimation results, confidence interval data and call option simulation are included.

Methods, Evaluation, Options (Finance), Securities, Pricing

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Panel Discussion on Pricing Strategy Conference

Article Abstract:

Company price setting is critical function. Three elements have a strong impact on price setting efficiency: a perception of increasing competitive pressure, proliferation of substitutes on the market, and high local consumer information levels. The managerial worth of various theories of pricing is checked against such circumstances. Diffusion models are seen as a positive future direction. Such a model can allow analysis of optimal pricing strategies over time. The conference directed itself to new work and new models on competition and product lines. One area of research which did not receive great attention was the reference priced or anticipated price simulation model. Reservation price simulation is well suited to fundamental macroscopic economic analysis, which there needs to be more of.

Research, Models, Competition (Economics), Industrial efficiency, Economic efficiency

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