Markup Pricing in a Dynamic Model of the Food Industry
构建了一个农场与零售价格和数量的动态模型，核心是批发价格上涨通过加成定价行为传导至零售端，并用格兰杰因果检验验证该假设，估计了22种食品商品的加成价格关系。
Abstract This paper presents a dynamic model of farm and retail prices and quantities. Central to the model is the notion that increases in wholesale prices are transmitted to the retail level via markup‐type pricing behavior. This behavior is shown to be consistent with firm optimization under the assumption of constant returns to scale and Leontief production technology at the retail level. The markup hypothesis is tested using the Granger‐Sims causality tests. Markup‐type price relationships are then estimated for twenty‐two food commodities.