price

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Price

The value of a thing with real or perceived worth. Price represents the amount of value the market has assigned, fairly or unfairly, to a good or service. Normally, prices are expressed in terms of money, but practices such as countertrade and PIK securities indicate that prices may be expressed in goods: "four chickens for two sheep." Price is a necessary component of trade.

Prices tend to be regulated by the law of supply and demand; that is, a price of a good or service increases with smaller supply and/or greater demand. A corollary to this is the idea that commoditization drives prices down because it increases supply (sometimes vastly) while leaving demand the same. Prices likewise rise when the value of money declines. Governments can and have controlled the prices of certain goods and services by subsidy or decree. This is usually an anti-inflationary measure and tends to distort, rather than eliminate, the law of supply and demand. It is thus not generally sustainable as a mechanism for controlling price.

price

The dollar amount at which a security trades. Stocks are nearly always quoted fully (that is, $25 means $25 per share), while bonds are ordinarily quoted as a percentage of par value (that is, 98 represents $980 per $1,000 par bond).

price

the money value of a unit of a GOOD, SERVICE, FINANCIAL SECURITY or ASSET which a buyer is required to pay a seller to purchase the item. Usually the price of a product is fixed by the seller in advance on the basis of the costs of producing and selling the product and the seller's desired profit margin. In other cases, however, prices are variable, being determined by prevailing demand and supply conditions as with the sale, for example, of a STOCK or SHARE, a house or items sold at an auction.

Because a purchase involves a money outlay on the part of buyers who operate within a budget constraint, the price of a product is an important factor in the buying decision. It may well be the paramount consideration in many cases, but for some purchases other elements in the MARKETING MIX (product quality and performance etc.) may be equally if not more important. Thus, although many products (especially COMMODITY-TYPE PRODUCTS) tend to be sold at low, competitive prices, many others can be sold at higher prices, providing customers with a variety of price-quality trade-offs and other product attributes. See MARKET STRUCTURE, MONOPOLY, BUYER'S MARKET, SELLER'S MARKET, PRICING, PRICING OBJECTIVES, PRICING METHODS, FOUR P'S OF MARKETING.

price

the money value of a unit of a GOOD, SERVICE, ASSET or FACTOR INPUT. In some markets (for example, see PERFECT COMPETITION), price will be determined entirely by the forces of DEMAND and SUPPLY. By contrast, in other markets (for example, MONOPOLY markets) powerful suppliers have considerable discretion over the price that they charge. In certain circumstances, prices may be subjected to governmental PRICE CONTROL or regulated by means of PRICES AND INCOMES POLICY. See also EQUILIBRIUM MARKET PRICE, ADMINISTERED PRICE.

price

An amount of money exchanged for something of value.

References in periodicals archive ?
As our design has a given set of subjects participating with multiple buy price types but in only one institution, our estimates of institution effects will necessarily be between session.
between a buy price of 25 and 50 in PERM or between a buy price of 50 and 75 TEMP) results in significant differences in all cases (all tests are significant at better than 1%).
Also, we do find that the PROXY and NOPROXY distributions differ (comparing rows 2 and 3) for both buy price types (p values of .
When bidders are risk averse, Reynolds and Wooders (2009) find that a sufficient condition for a buy price to increase expected revenue in TEMP is that the buy price be strictly greater than [[delta].
a permanent buy price without [mandatory] proxy bidding) yields a higher or lower price in our data than the eBay combination (a temporary buy price with proxy bidding) we construct two indicator variables that define those two cells in our design and then run an ordinary least squares regression of price on the Yahoo
Note that whether or not a given bidder is BPE is exogenous and determined by the random number drawn for that subject compared to the buy price in effect for that period.
What we find is that buy price type never makes a difference, that there is a strong and significant effect of having two BPE bidders, that there is always (across both institutions as well as in the pooled data) a difference for a buy price of 25 versus a buy price of 50, and that there is a difference for a buy price of 50 versus a buy price of 75 only in the pooled data.
Note that in some cases the presence of a buy price appears to improve efficiency even in cases where there are no BPE bidders (e.
This provides some support that the increases in efficiency we observe in our buy price auctions are not merely driven by experimental design or subject pool differences between their study and ours.
Some pairs of values for the two bidders participating in the auction could result in instances where the number of BPE bidders depends upon the level of the buy price (25, 50, 75), while others are deterministic.