Robert Phillips

“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
Exact Citation:
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
Date: 2012