Paralyzed by Fear: Rigid and Discrete Pricing under Demand Uncertainty
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We propose a new theory of price rigidity based on rms Knightian uncertainty about their competitive environment. This uncertainty has two key implications. First, rms learn about the shape of their demand function from past observations of quantities sold. This learning gives rise to kinks in the
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美国国家经济研究局创建时间：
2016-08-01
