a_tsy (a_tsy) wrote,

Some sellers would say

Alan Kirman: For instance, when the Soviet Union collapsed, all these kiosks sprang up in Moscow around the metro stations. You had all these people who started trading for the first time. We went to this new market and collected data over three months about the prices they charged and we asked them: “How did you choose the rule you use? How did you decide how to change the price?” The answers were very interesting. Some sellers would say: “Well, I look at the going price in Moscow”. Others said: “I check the price I paid for the articles when I got them, and then I add a mark-up”, or “I try to match the average of what is around me”, or “I try to beat the lowest price around me”. So you had all these different rules and then we ran little simulations and found out that you could have higher prices occurring at one metro station compared to another, not because the income levels of this area was higher or lower, but just because of the way these rules interact. We never published that, but it was really interesting.
И прочие интересности от Алана Кирмана
Tags: экономическая наука

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