It is common knowledge that the emergence of a secondary market implies that the price in the primary market has not equated supply and demand, and it can generally be assumed…
Abstract
It is common knowledge that the emergence of a secondary market implies that the price in the primary market has not equated supply and demand, and it can generally be assumed that this is the result of an “administered” price, coupled with some more or less arbitrary system of allocation.
This article has been withdrawn as it was published elsewhere and accidentally duplicated. The original article can be seen here: 10.1108/EUM0000000005145. When citing the…
Abstract
This article has been withdrawn as it was published elsewhere and accidentally duplicated. The original article can be seen here: 10.1108/EUM0000000005145. When citing the article, please cite: André Gabor, C.W.J. Granger, (1972), “Ownership and acquisition of consumer durables: report on the Nottingham consumer durables project”, European Journal of Marketing, Vol. 6 Iss: 4, pp. 234 - 248.
“In the provision of terminology and apparatus to aid thought I do not think that Marshall did economists any greater service than by the explicit introduction of the idea of…
André Gabor, Clive W.J. Granger and Anthony P. Sowter
Introduction This is a report on a comparison of the effects of price differences on purchasing decisions obtained by observing the actual shopping behaviour of a group of…
Abstract
Introduction This is a report on a comparison of the effects of price differences on purchasing decisions obtained by observing the actual shopping behaviour of a group of housewives and the responses of a comparable group of subjects to hypothetical price situations similar to those found in the shops. The project which made this possible is outlined later.
Mr Dobb is quite right: I think than an arithmetical example can prove something, namely, that a certain hypothesis is of no general validity and this is what I have demonstrated…
Abstract
Mr Dobb is quite right: I think than an arithmetical example can prove something, namely, that a certain hypothesis is of no general validity and this is what I have demonstrated in my Note. (It might prove, in addition, that the compiler of the example is not very good at arithmetic.) As regards Mr Dobb's tenet of growth rates, I am not of course in disagreement with the principle, and the difference between us is merely that he regards it as a significant new Russian discovery, whereas I am under the impression that it has been known to Western economists for some considerable time under the name of the acceleration principle. And to say, as I did, that the r/C ratio has no practical significance, because for well known reasons no reliable estimates of C can be formed, is not, as Mr Dobb suggests, the end of all economics.
The concepts of the traditional theory of demand have not been found suitable for realistic studies of consumers' behaviour. Since 1954, however, new lines of exploration have…
Abstract
The concepts of the traditional theory of demand have not been found suitable for realistic studies of consumers' behaviour. Since 1954, however, new lines of exploration have evolved, of which that of Professor Jean Stoetzel has proved most fruitful. The idea that, since price serves as a powerful indicator of quality, the consumer bent on a purchase will approach the market with two price limits in mind was verified and further developed by the Nottingham University Consumer Study Group. The theory has been successfully extended to the competition between leading brands and applied to the exploration of consumer behaviour during the decimalisation period in the UK. Advances have been made also in the quantitative study of other related problems, such as the price image of retail establishments and the relationship between pack size, price and purchasing behaviour.
André Gabor and C.W.J. Granger
It is stated in a recent commercial publication that of a set of products test marketed in the course of recent years, 20 per cent of the failures was mainly due to the price and…
Abstract
It is stated in a recent commercial publication that of a set of products test marketed in the course of recent years, 20 per cent of the failures was mainly due to the price and the product not being well matched. While the statistical evidence presented appears to be rather too slender to permit generalisations, its indications are in conformity with other experience, both in this country and elsewhere.
Introduction The psychology of pricing has two main divisions. On the one hand, there is the psychology of the price setter, an interesting field which offers much scope for…
Abstract
Introduction The psychology of pricing has two main divisions. On the one hand, there is the psychology of the price setter, an interesting field which offers much scope for further research, and on the other hand we have the psychology of the customer. Since pricing is unlikely to lead to business success if it is carried out in disregard of the customers' attitudes and reactions, the two are not unconnected, but the latter can well be discussed on its own and it is in this way that I propose to approach the problems of customer oriented pricing.
This chapter takes as its starting point the proposition that consumers are, by and large, far more rational in their attitudes and behaviour than suggested by most of the people…
Abstract
This chapter takes as its starting point the proposition that consumers are, by and large, far more rational in their attitudes and behaviour than suggested by most of the people who keep crying out for greater consumer protection, and also by some marketing men who seek to explain away their failures by attributing irrationality to their prospective customers.
Philosophers and political theorists have presented us with a dazzling variety of views on freedom but, after more than two thousand years of discussion, general agreement as to…
Abstract
Philosophers and political theorists have presented us with a dazzling variety of views on freedom but, after more than two thousand years of discussion, general agreement as to the correct meaning of the concept appears to be as far off as ever. What Abraham Lincoln said almost a century ago is still true: the world has never had a good definition of the word liberty.