Buyers' and sellers' prices and administered behavior
A nonparametric time series test is applied to the buyers' and sellers' (BLS) prices collected by George Stigler and James Kindahl. Although BLS prices are more rigid, the two series of prices are sufficiently similar in behavior during two business cycles so that one can reject the null t...
Gespeichert in:
| Veröffentlicht in: | The review of economics and statistics 1986-08, Vol.68 (3), p.369-378 |
|---|---|
| Hauptverfasser: | , |
| Format: | Artikel |
| Sprache: | eng |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
| container_end_page | 378 |
|---|---|
| container_issue | 3 |
| container_start_page | 369 |
| container_title | The review of economics and statistics |
| container_volume | 68 |
| creator | Ross, H.N Krausz, J |
| description | A nonparametric time series test is applied to the buyers' and sellers' (BLS) prices collected by George Stigler and James Kindahl. Although BLS prices are more rigid, the two series of prices are sufficiently similar in behavior during two business cycles so that one can reject the null that each is generated by different stochastic processes. Moreover, each series reacts similarly in favor of the administrated prices hypothesis: in recessions and in the initial year of recovery, concentrated prices are more rigid and perversely flexible than unconcentrated prices, which are characterised by random movements and changes in the direction of real demand. |
| doi_str_mv | 10.2307/1926013 |
| format | Article |
| fullrecord | <record><control><sourceid>jstor_proqu</sourceid><recordid>TN_cdi_proquest_journals_194677011</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><jstor_id>1926013</jstor_id><sourcerecordid>1926013</sourcerecordid><originalsourceid>FETCH-LOGICAL-c325t-350b0d17bb4b80a97d3ab6f441d581f22628a5ad684abd79e01db1ffabc1e54f3</originalsourceid><addsrcrecordid>eNp90EtLAzEQAOAgCtYq_gSLCj2tzuS5OWrxBQUP2nNINoluabs12Qr9967dXvU0zMzHDDOEnCPcUAbqFjWVgOyADFAwKDRyekgGAIwXUjBxTE5yngMAKmQDIu4325DyeGRXfpTDYrFL1qmuQt7VrF_Wqzq3IQU_cuHTftdNOiVH0S5yONvHIZk9PrxPnovp69PL5G5aVIyKtmACHHhUznFXgtXKM-tk5By9KDFSKmlphfWy5NZ5pQOgdxijdRUGwSMbkst-7jo1X5uQWzNvNmnVrTSouVQKEDt09SeiGkrGdEk7Ne5VlZqcU4imO3Jp09YgmN_Hmf3jOnndy3lum_QPu-hZtI2xH6nOZvZGuw4gl1IoYD_uq3GY</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>1290833982</pqid></control><display><type>article</type><title>Buyers' and sellers' prices and administered behavior</title><source>Business Source Complete</source><source>Periodicals Index Online</source><source>JSTOR Mathematics & Statistics</source><source>JSTOR Archive Collection A-Z Listing</source><creator>Ross, H.N ; Krausz, J</creator><creatorcontrib>Ross, H.N ; Krausz, J</creatorcontrib><description>A nonparametric time series test is applied to the buyers' and sellers' (BLS) prices collected by George Stigler and James Kindahl. Although BLS prices are more rigid, the two series of prices are sufficiently similar in behavior during two business cycles so that one can reject the null that each is generated by different stochastic processes. Moreover, each series reacts similarly in favor of the administrated prices hypothesis: in recessions and in the initial year of recovery, concentrated prices are more rigid and perversely flexible than unconcentrated prices, which are characterised by random movements and changes in the direction of real demand.</description><identifier>ISSN: 0034-6535</identifier><identifier>EISSN: 1530-9142</identifier><identifier>DOI: 10.2307/1926013</identifier><identifier>CODEN: RECSA9</identifier><language>eng</language><publisher>Cambridge, Mass: Elsevier Science Publishers B.V. (North-Holland)</publisher><subject>Administered prices ; Behavior ; bias ; buying prices ; Commodities ; Commodity prices ; Conformity ; Economic fluctuations ; Economic recessions ; Economic theory ; Hypotheses ; Market prices ; Price changes ; Price increases ; Price level changes ; Price rigidities ; Prices ; random walk ; selling prices ; Statistical analysis ; stochastic processes ; time series analysis ; trade cycles</subject><ispartof>The review of economics and statistics, 1986-08, Vol.68 (3), p.369-378</ispartof><rights>Copyright 1986 The President and Fellows of Harvard College</rights><rights>Copyright MIT Press Journals Aug 1986</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c325t-350b0d17bb4b80a97d3ab6f441d581f22628a5ad684abd79e01db1ffabc1e54f3</citedby></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://www.jstor.org/stable/pdf/1926013$$EPDF$$P50$$Gjstor$$H</linktopdf><linktohtml>$$Uhttps://www.jstor.org/stable/1926013$$EHTML$$P50$$Gjstor$$H</linktohtml><link.rule.ids>314,780,784,803,832,27868,27923,27924,58016,58020,58249,58253</link.rule.ids></links><search><creatorcontrib>Ross, H.N</creatorcontrib><creatorcontrib>Krausz, J</creatorcontrib><title>Buyers' and sellers' prices and administered behavior</title><title>The review of economics and statistics</title><description>A nonparametric time series test is applied to the buyers' and sellers' (BLS) prices collected by George Stigler and James Kindahl. Although BLS prices are more rigid, the two series of prices are sufficiently similar in behavior during two business cycles so that one can reject the null that each is generated by different stochastic processes. Moreover, each series reacts similarly in favor of the administrated prices hypothesis: in recessions and in the initial year of recovery, concentrated prices are more rigid and perversely flexible than unconcentrated prices, which are characterised by random movements and changes in the direction of real demand.</description><subject>Administered prices</subject><subject>Behavior</subject><subject>bias</subject><subject>buying prices</subject><subject>Commodities</subject><subject>Commodity prices</subject><subject>Conformity</subject><subject>Economic fluctuations</subject><subject>Economic recessions</subject><subject>Economic theory</subject><subject>Hypotheses</subject><subject>Market prices</subject><subject>Price changes</subject><subject>Price increases</subject><subject>Price level changes</subject><subject>Price rigidities</subject><subject>Prices</subject><subject>random walk</subject><subject>selling prices</subject><subject>Statistical analysis</subject><subject>stochastic processes</subject><subject>time series analysis</subject><subject>trade cycles</subject><issn>0034-6535</issn><issn>1530-9142</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>1986</creationdate><recordtype>article</recordtype><sourceid>K30</sourceid><recordid>eNp90EtLAzEQAOAgCtYq_gSLCj2tzuS5OWrxBQUP2nNINoluabs12Qr9967dXvU0zMzHDDOEnCPcUAbqFjWVgOyADFAwKDRyekgGAIwXUjBxTE5yngMAKmQDIu4325DyeGRXfpTDYrFL1qmuQt7VrF_Wqzq3IQU_cuHTftdNOiVH0S5yONvHIZk9PrxPnovp69PL5G5aVIyKtmACHHhUznFXgtXKM-tk5By9KDFSKmlphfWy5NZ5pQOgdxijdRUGwSMbkst-7jo1X5uQWzNvNmnVrTSouVQKEDt09SeiGkrGdEk7Ne5VlZqcU4imO3Jp09YgmN_Hmf3jOnndy3lum_QPu-hZtI2xH6nOZvZGuw4gl1IoYD_uq3GY</recordid><startdate>19860801</startdate><enddate>19860801</enddate><creator>Ross, H.N</creator><creator>Krausz, J</creator><general>Elsevier Science Publishers B.V. (North-Holland)</general><general>Harvard University Press, etc</general><general>MIT Press Journals, The</general><scope>FBQ</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>EOLOZ</scope><scope>FKUCP</scope><scope>IOIBA</scope><scope>K30</scope><scope>PAAUG</scope><scope>PAWHS</scope><scope>PAWZZ</scope><scope>PAXOH</scope><scope>PBHAV</scope><scope>PBQSW</scope><scope>PBYQZ</scope><scope>PCIWU</scope><scope>PCMID</scope><scope>PCZJX</scope><scope>PDGRG</scope><scope>PDWWI</scope><scope>PETMR</scope><scope>PFVGT</scope><scope>PGXDX</scope><scope>PIHIL</scope><scope>PISVA</scope><scope>PJCTQ</scope><scope>PJTMS</scope><scope>PLCHJ</scope><scope>PMHAD</scope><scope>PNQDJ</scope><scope>POUND</scope><scope>PPLAD</scope><scope>PQAPC</scope><scope>PQCAN</scope><scope>PQCMW</scope><scope>PQEME</scope><scope>PQHKH</scope><scope>PQMID</scope><scope>PQNCT</scope><scope>PQNET</scope><scope>PQSCT</scope><scope>PQSET</scope><scope>PSVJG</scope><scope>PVMQY</scope><scope>PZGFC</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope></search><sort><creationdate>19860801</creationdate><title>Buyers' and sellers' prices and administered behavior</title><author>Ross, H.N ; Krausz, J</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c325t-350b0d17bb4b80a97d3ab6f441d581f22628a5ad684abd79e01db1ffabc1e54f3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>1986</creationdate><topic>Administered prices</topic><topic>Behavior</topic><topic>bias</topic><topic>buying prices</topic><topic>Commodities</topic><topic>Commodity prices</topic><topic>Conformity</topic><topic>Economic fluctuations</topic><topic>Economic recessions</topic><topic>Economic theory</topic><topic>Hypotheses</topic><topic>Market prices</topic><topic>Price changes</topic><topic>Price increases</topic><topic>Price level changes</topic><topic>Price rigidities</topic><topic>Prices</topic><topic>random walk</topic><topic>selling prices</topic><topic>Statistical analysis</topic><topic>stochastic processes</topic><topic>time series analysis</topic><topic>trade cycles</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Ross, H.N</creatorcontrib><creatorcontrib>Krausz, J</creatorcontrib><collection>AGRIS</collection><collection>CrossRef</collection><collection>Periodicals Index Online Segment 01</collection><collection>Periodicals Index Online Segment 04</collection><collection>Periodicals Index Online Segment 29</collection><collection>Periodicals Index Online</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - West</collection><collection>Primary Sources Access (Plan D) - International</collection><collection>Primary Sources Access & Build (Plan A) - MEA</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - Midwest</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - Northeast</collection><collection>Primary Sources Access (Plan D) - Southeast</collection><collection>Primary Sources Access (Plan D) - North Central</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - Southeast</collection><collection>Primary Sources Access (Plan D) - South Central</collection><collection>Primary Sources Access & Build (Plan A) - UK / I</collection><collection>Primary Sources Access (Plan D) - Canada</collection><collection>Primary Sources Access (Plan D) - EMEALA</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - North Central</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - South Central</collection><collection>Primary Sources Access & Build (Plan A) - International</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - International</collection><collection>Primary Sources Access (Plan D) - West</collection><collection>Periodicals Index Online Segments 1-50</collection><collection>Primary Sources Access (Plan D) - APAC</collection><collection>Primary Sources Access (Plan D) - Midwest</collection><collection>Primary Sources Access (Plan D) - MEA</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - Canada</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - UK / I</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - EMEALA</collection><collection>Primary Sources Access & Build (Plan A) - APAC</collection><collection>Primary Sources Access & Build (Plan A) - Canada</collection><collection>Primary Sources Access & Build (Plan A) - West</collection><collection>Primary Sources Access & Build (Plan A) - EMEALA</collection><collection>Primary Sources Access (Plan D) - Northeast</collection><collection>Primary Sources Access & Build (Plan A) - Midwest</collection><collection>Primary Sources Access & Build (Plan A) - North Central</collection><collection>Primary Sources Access & Build (Plan A) - Northeast</collection><collection>Primary Sources Access & Build (Plan A) - South Central</collection><collection>Primary Sources Access & Build (Plan A) - Southeast</collection><collection>Primary Sources Access (Plan D) - UK / I</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - APAC</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - MEA</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><jtitle>The review of economics and statistics</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Ross, H.N</au><au>Krausz, J</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Buyers' and sellers' prices and administered behavior</atitle><jtitle>The review of economics and statistics</jtitle><date>1986-08-01</date><risdate>1986</risdate><volume>68</volume><issue>3</issue><spage>369</spage><epage>378</epage><pages>369-378</pages><issn>0034-6535</issn><eissn>1530-9142</eissn><coden>RECSA9</coden><abstract>A nonparametric time series test is applied to the buyers' and sellers' (BLS) prices collected by George Stigler and James Kindahl. Although BLS prices are more rigid, the two series of prices are sufficiently similar in behavior during two business cycles so that one can reject the null that each is generated by different stochastic processes. Moreover, each series reacts similarly in favor of the administrated prices hypothesis: in recessions and in the initial year of recovery, concentrated prices are more rigid and perversely flexible than unconcentrated prices, which are characterised by random movements and changes in the direction of real demand.</abstract><cop>Cambridge, Mass</cop><pub>Elsevier Science Publishers B.V. (North-Holland)</pub><doi>10.2307/1926013</doi><tpages>10</tpages></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 0034-6535 |
| ispartof | The review of economics and statistics, 1986-08, Vol.68 (3), p.369-378 |
| issn | 0034-6535 1530-9142 |
| language | eng |
| recordid | cdi_proquest_journals_194677011 |
| source | Business Source Complete; Periodicals Index Online; JSTOR Mathematics & Statistics; JSTOR Archive Collection A-Z Listing |
| subjects | Administered prices Behavior bias buying prices Commodities Commodity prices Conformity Economic fluctuations Economic recessions Economic theory Hypotheses Market prices Price changes Price increases Price level changes Price rigidities Prices random walk selling prices Statistical analysis stochastic processes time series analysis trade cycles |
| title | Buyers' and sellers' prices and administered behavior |
| url | https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-01-13T09%3A14%3A34IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-jstor_proqu&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=Buyers'%20and%20sellers'%20prices%20and%20administered%20behavior&rft.jtitle=The%20review%20of%20economics%20and%20statistics&rft.au=Ross,%20H.N&rft.date=1986-08-01&rft.volume=68&rft.issue=3&rft.spage=369&rft.epage=378&rft.pages=369-378&rft.issn=0034-6535&rft.eissn=1530-9142&rft.coden=RECSA9&rft_id=info:doi/10.2307/1926013&rft_dat=%3Cjstor_proqu%3E1926013%3C/jstor_proqu%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_pqid=1290833982&rft_id=info:pmid/&rft_jstor_id=1926013&rfr_iscdi=true |