“The History and Future of Pricing”
Editors: Özalp Özer and Robert Phillips
This chapter introduces the concept of a pricing modality. By pricing modality, I refer to the
way that buyers and sellers interact in order to determine prices in a market. In the terms of Mark
Granovetter (1992), prices themselves are an "outcome" while a pricing modality is an "institution."
Depending upon the situation, a pricing modality can either be a particular instance of an economic
institution or part of a larger economic institution (e.g. a "market structure").
Source: Oxford Handbook of Pricing Management
Phillips, Robert. "The History and Future of Pricing." In Oxford Handbook of Pricing Management. Ed. Özalp Özer and Robert Phillips. New York: Oxford University Press, 2012.
Place: New York