journal article Show The Quarterly Journal of Economics Vol. 110, No. 2 (May, 1995) , pp. 321-352 (32 pages) Published By: Oxford University Press https://doi.org/10.2307/2118442 https://www.jstor.org/stable/2118442 Abstract We examine daily prices of eight goods at seventeen retail stores collected in Ann Arbor, Michigan, over a four-month period from November 1 to February 28. We focus on weekly and seasonal price patterns, and on the frequency of price markdowns or "sales." There were frequent markdowns in the intensive shopping period prior to Christmas, and a tendency for such sales to occur on weekends. We interpret these findings as evidence that a significant number of markdowns are timed to occur when shopping intensity is exogenously high. We complement the imperfect information-based motives for sales in the literature by contributing an additional element based on the role of bulk shopping and increasing returns in the shopping technology. Journal Information The Quarterly Journal of Economics (QJE) is the oldest professional journal of economics in the English language. Edited at Harvard University's Department of Economics, it covers all aspects of the field -- from the journal's traditional emphasis on microtheory, to both empirical and theoretical macroeconomics. QJE is invaluable to professional and academic economists and students around the world. Publisher Information Oxford University Press is a department of the University of Oxford. It furthers the University's objective of excellence in research, scholarship, and education by publishing worldwide. OUP is the world's largest university press with the widest global presence. It currently publishes more than 6,000 new publications a year, has offices in around fifty countries, and employs more than 5,500 people worldwide. It has become familiar to millions through a diverse publishing program that includes scholarly works in all academic disciplines, bibles, music, school and college textbooks, business books, dictionaries and reference books, and academic journals. Rights & Usage This item is part of a JSTOR Collection. Recommended textbook solutions
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Which type of retailer involves comparatively low prices?Therefore, Discount retailers have comparatively low prices as a major selling point combined with the reduced costs of doing business.
Which type of store is small and offers a limited merchandise assortment at very low prices?Which type of store is small and offers a limited merchandise assortment at very low prices? Extreme value retailers are small, full-line discount stores that offer a limited merchandise assortment at a very low price.
What type of retailers carry wide ranges of products at low prices?A department store is a set-up which offers wide range of products to the end-users under one roof. In a department store, the consumers can get almost all the products they aspire to shop at one place only. Department stores provide a wide range of options to the consumers and thus fulfill all their shopping needs.
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Which of these stores is the clearest representative of the low markup high-volume retail group
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