Record Details

Theory Of Rigid Prices And The Language Market

Research Journal of Economics, Business and ICT

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Field Value
 
Title Theory Of Rigid Prices And The Language Market
 
Creator Bican, Vitezslav; Faculty of Business Administration, University of Economics in Prague, Department of Microeconomics
 
Subject —
Language Market, Pricing Models
D21, D40, D81
 
Description The aim of the paper is to reveal the principles described by various pricing theories and find those principles in the real pricing policies of language market subjects. The theoretical section deals with the three in microeconomics essential pricing theories, the neoclassical, the post-Keynesian and the Austrian. Then, I am commenting the results of my own research concerning the pricing policies of different private language schools. I use the notion of “relevant competition“ to describe the reactive pricing policy of various language schools as reaction to the pricing changes of the others. Based on that concept I find the principles of pricing in the respective market by distinguishing the long and short-term policies. One of the mail findings of the article is that there is a significant difference between short and long-term pricing strategy in the language school market, when both of these strategies are based on different theoretical pricing concept. Nevertheless, both these theories lead to some respect to rigid (non-flexible) prices.
 
Publisher English Time Schools & Overseas Education
 
Contributor —
 
Date 2011-12-23
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://ojs.journals.cz/index.php/RJEBI/article/view/199
 
Source Research Journal of Economics, Business and ICT; Vol 3 (2011)
2047-7848
2045-3345
 
Language eng
 
Relation http://ojs.journals.cz/index.php/RJEBI/article/view/199/203
 
Rights Copyright (c) 2011 Vitezslav Bican
https://creativecommons.org/licenses/by/3.0/