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In behavioral economics, time preference (or time discounting, [1] delay discounting, temporal discounting, [2] long-term orientation [3]) is the current relative valuation placed on receiving a good at an earlier date compared with receiving it at a later date. [1] Applications for these preferences include finance, health, climate change.
High–low pricing (or hi–low pricing) is a type of pricing strategy adopted by companies, usually small and medium-sized retail firms, where a firm initially charges a high price for a product and later, when it has become less desirable, sells it at a discount or through clearance sales. [1]
A company chooses to pursue one of two types of competitive advantage, either via lower costs than its competition or by differentiating itself along dimensions valued by customers to command a higher price. A company also chooses one of two types of scope, either focus (offering its products to selected segments of the market) or industry-wide ...
Some argue that the only reason for discriminating against future generations is that these generations might cease to exist in the future. Thus the rate of time preference should equal zero since the probability for such a catastrophic event is so low (assumed to be 0.1% per year). [8] This infers that there is equal weight given to all ...
For instance, telecommunications companies charge different prices for customers' monthly Internet access time. They charge a higher price for customers who have small usage whilst charging a lower price for customers who have large usage. In this way, the monopoly seller appropriates a portion of the buyer's consumer surplus for himself. Third ...
We compared the prices of popular brand name foods with their generic counterpart to identify the exact cost trade-off of choosing name over value. Price face-off: Generic vs. brand name products ...
The market structure determines the price formation method of the market. Suppliers and Demanders (sellers and buyers) will aim to find a price that both parties can accept creating a equilibrium quantity. Market definition is an important issue for regulators facing changes in market structure, which needs to be determined. [1]
Companies often transform from a sole entrepreneur into a large company with multibillion-dollar contracts at stake, subject to both price anxiety and on the other hand price confidence. For example, when the buyer knows that the seller will win a deal at any cost, the seller will get it at any cost, meaning that the price will go down.