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The ethics of price variation

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The ethics of price variation. / Jackson, William Anthony.

In: Forum for Social Economics, 28.05.2022.

Research output: Contribution to journalArticlepeer-review

Harvard

Jackson, WA 2022, 'The ethics of price variation', Forum for Social Economics. https://doi.org/10.1080/07360932.2022.2080753

APA

Jackson, W. A. (2022). The ethics of price variation. Forum for Social Economics. https://doi.org/10.1080/07360932.2022.2080753

Vancouver

Jackson WA. The ethics of price variation. Forum for Social Economics. 2022 May 28. https://doi.org/10.1080/07360932.2022.2080753

Author

Jackson, William Anthony. / The ethics of price variation. In: Forum for Social Economics. 2022.

Bibtex - Download

@article{6d450d7aff2e4311a3272bc00e032344,
title = "The ethics of price variation",
abstract = "Orthodox price theory turns on flexible prices that move frequently to maintain market-clearing equilibrium. Fixed prices are a source of market imperfections and failures. In the traditional ethics of pricing, by contrast, prices should be set at a just norm and stay there, with only rare amendments. The current paper examines these attitudes to price variation and finds them inadequate: orthodox economics is too supportive of continual price changes, while the traditional ethics dwell too much on the just price. A case is made for treating price stability as being distinct from the just price and valuable in itself. Rather than yearning for an elusive optimum, ethical assessment of pricing can then be based on acceptable ranges for the price level and price variation.",
keywords = "ethics, pricing, stability, market power, regulation",
author = "Jackson, {William Anthony}",
note = "{\textcopyright} 2022 Informa UK Limited. This is an author-produced version of the published paper. Uploaded in accordance with the publisher{\textquoteright}s self-archiving policy. Further copying may not be permitted; contact the publisher for details",
year = "2022",
month = may,
day = "28",
doi = "10.1080/07360932.2022.2080753",
language = "English",
journal = "Forum for Social Economics",
issn = "0736-0932",
publisher = "Taylor and Francis Inc.",

}

RIS (suitable for import to EndNote) - Download

TY - JOUR

T1 - The ethics of price variation

AU - Jackson, William Anthony

N1 - © 2022 Informa UK Limited. This is an author-produced version of the published paper. Uploaded in accordance with the publisher’s self-archiving policy. Further copying may not be permitted; contact the publisher for details

PY - 2022/5/28

Y1 - 2022/5/28

N2 - Orthodox price theory turns on flexible prices that move frequently to maintain market-clearing equilibrium. Fixed prices are a source of market imperfections and failures. In the traditional ethics of pricing, by contrast, prices should be set at a just norm and stay there, with only rare amendments. The current paper examines these attitudes to price variation and finds them inadequate: orthodox economics is too supportive of continual price changes, while the traditional ethics dwell too much on the just price. A case is made for treating price stability as being distinct from the just price and valuable in itself. Rather than yearning for an elusive optimum, ethical assessment of pricing can then be based on acceptable ranges for the price level and price variation.

AB - Orthodox price theory turns on flexible prices that move frequently to maintain market-clearing equilibrium. Fixed prices are a source of market imperfections and failures. In the traditional ethics of pricing, by contrast, prices should be set at a just norm and stay there, with only rare amendments. The current paper examines these attitudes to price variation and finds them inadequate: orthodox economics is too supportive of continual price changes, while the traditional ethics dwell too much on the just price. A case is made for treating price stability as being distinct from the just price and valuable in itself. Rather than yearning for an elusive optimum, ethical assessment of pricing can then be based on acceptable ranges for the price level and price variation.

KW - ethics

KW - pricing

KW - stability

KW - market power

KW - regulation

U2 - 10.1080/07360932.2022.2080753

DO - 10.1080/07360932.2022.2080753

M3 - Article

JO - Forum for Social Economics

JF - Forum for Social Economics

SN - 0736-0932

ER -