{"id":"https://openalex.org/W2005490698","doi":"https://doi.org/10.2307/1058965","title":"Mark-Up Pricing over the Business Cycle: The Microfoundations of the Variable Mark-Up","display_name":"Mark-Up Pricing over the Business Cycle: The Microfoundations of the Variable Mark-Up","publication_year":1986,"publication_date":"1986-07-01","ids":{"openalex":"https://openalex.org/W2005490698","doi":"https://doi.org/10.2307/1058965","mag":"2005490698"},"language":"en","primary_location":{"id":"doi:10.2307/1058965","doi":"https://doi.org/10.2307/1058965","is_oa":false,"landing_page_url":"https://doi.org/10.2307/1058965","pdf_url":null,"source":{"id":"https://openalex.org/S16296580","display_name":"Southern Economic Journal","issn_l":"0038-4038","issn":["0038-4038","2325-8012"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-70","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Southern Economic Journal","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5112728611","display_name":"Jonathan P. Goldstein","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Jonathan P. Goldstein","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5112728611"],"corresponding_institution_ids":[],"apc_list":{"value":3010,"currency":"USD","value_usd":3010},"apc_paid":null,"fwci":2.1577,"has_fulltext":false,"cited_by_count":14,"citation_normalized_percentile":{"value":0.89296794,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":89,"max":95},"biblio":{"volume":"53","issue":"1","first_page":"233","last_page":"233"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.673799991607666,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.673799991607666,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.20340000092983246,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11043","display_name":"Merger and Competition Analysis","score":0.042100001126527786,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/business-cycles","display_name":"business cycles","score":0.925000011920929},{"id":"https://openalex.org/keywords/cost-plus-pricing","display_name":"cost-plus pricing","score":0.5550000071525574},{"id":"https://openalex.org/keywords/microfoundations","display_name":"microfoundations","score":0.7429999709129333},{"id":"https://openalex.org/keywords/income-elasticity","display_name":"income elasticity","score":0.8769999742507935},{"id":"https://openalex.org/keywords/cost-structure","display_name":"cost structure","score":0.8209999799728394},{"id":"https://openalex.org/keywords/competitive-pressure","display_name":"competitive pressure","score":0.7049999833106995},{"id":"https://openalex.org/keywords/price-formation","display_name":"price formation","score":0.8399999737739563},{"id":"https://openalex.org/keywords/rate-of-profit","display_name":"rate of profit","score":0.6480000019073486}],"concepts":[{"id":"https://openalex.org/C38935604","wikidata":"https://www.wikidata.org/wiki/Q4330363","display_name":"Stylized fact","level":2,"score":0.9289182424545288},{"id":"https://openalex.org/C2776589375","wikidata":"https://www.wikidata.org/wiki/Q1876068","display_name":"Microfoundations","level":2,"score":0.7942509651184082},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.7870684266090393},{"id":"https://openalex.org/C83873408","wikidata":"https://www.wikidata.org/wiki/Q192311","display_name":"Business cycle","level":2,"score":0.7619251608848572},{"id":"https://openalex.org/C2780871342","wikidata":"https://www.wikidata.org/wiki/Q7883752","display_name":"Underpinning","level":2,"score":0.4683035612106323},{"id":"https://openalex.org/C32239851","wikidata":"https://www.wikidata.org/wiki/Q7846538","display_name":"Trough (economics)","level":2,"score":0.44615206122398376},{"id":"https://openalex.org/C181622380","wikidata":"https://www.wikidata.org/wiki/Q26911","display_name":"Profit (economics)","level":2,"score":0.4232466220855713},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.40106454491615295},{"id":"https://openalex.org/C165556158","wikidata":"https://www.wikidata.org/wiki/Q83937","display_name":"Keynesian economics","level":1,"score":0.3991543650627136},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.32191887497901917},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C147176958","wikidata":"https://www.wikidata.org/wiki/Q77590","display_name":"Civil engineering","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.2307/1058965","doi":"https://doi.org/10.2307/1058965","is_oa":false,"landing_page_url":"https://doi.org/10.2307/1058965","pdf_url":null,"source":{"id":"https://openalex.org/S16296580","display_name":"Southern Economic Journal","issn_l":"0038-4038","issn":["0038-4038","2325-8012"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-70","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Southern Economic Journal","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"id":"https://metadata.un.org/sdg/1","display_name":"No poverty","score":0.6899999976158142}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":17,"referenced_works":["https://openalex.org/W1483096011","https://openalex.org/W1523598372","https://openalex.org/W1584409756","https://openalex.org/W1970827082","https://openalex.org/W1972209239","https://openalex.org/W1972465829","https://openalex.org/W2044558565","https://openalex.org/W2046424021","https://openalex.org/W2068148016","https://openalex.org/W2071655226","https://openalex.org/W2155100461","https://openalex.org/W2156471889","https://openalex.org/W2331640376","https://openalex.org/W2566953499","https://openalex.org/W2800478466","https://openalex.org/W3121998908","https://openalex.org/W3148706428"],"related_works":["https://openalex.org/W7048949222","https://openalex.org/W2002699972","https://openalex.org/W4205098119","https://openalex.org/W2090778584","https://openalex.org/W2765862404","https://openalex.org/W1987960657","https://openalex.org/W4206459144","https://openalex.org/W1509746535","https://openalex.org/W3122081900","https://openalex.org/W2143267712"],"abstract_inverted_index":{"While":[0,154],"considerable":[1],"attention":[2],"has":[3,23,66,77,161],"been":[4,67],"paid":[5],"either":[6,210],"to":[7,25,37,51,112,177,200],"the":[8,13,17,20,43,48,61,64,80,84,102,107,118,122,128,131,136,141,147,152,164,168,174,178,181,192,198,202,206,211,221,231,238,264],"fixity":[9],"or":[10,214],"variability":[11,62],"of":[12,33,47,63,75,83,90,101,110,121,140,167,180,213,217,220,226,237,240,249,267],"markup":[14],"and":[15,50,98,104,125,185,245,254,263],"thus":[16],"profit":[18],"rate,":[19],"existing":[21],"literature":[22],"failed":[24],"develop":[26],"a":[27,39,91,241,246],"serious":[28],"microeconomic":[29,40],"underpinning.":[30],"The":[31,58,72,257],"purpose":[32],"this":[34,155],"paper":[35],"is":[36,149,230],"construct":[38],"model":[41],"for":[42,55],"optimal":[44],"cyclical":[45,169],"behavior":[46],"mark-up":[49,56,65,94,103,142,148,170,228,255],"analyze":[52],"its":[53],"implications":[54],"variability.":[57],"debate":[59,156],"over":[60,151],"primarily":[68],"empirical":[69],"in":[70,205],"nature.":[71],"major":[73,224],"area":[74],"contention":[76],"centered":[78],"around":[79],"demand":[81,99,111,218],"sensitivity":[82],"mark-up.'":[85],"On":[86,130],"one":[87],"hand,":[88,133],"proponents":[89],"cyclically":[92],"fluctuating":[93],"consider":[95],"both":[96],"cost":[97,137,243],"determinants":[100,219],"focus":[105],"on":[106,252],"income":[108],"elasticity":[109],"explain":[113,201],"mark-ups":[114],"that":[115,146,189],"rise":[116],"during":[117,127],"expansion":[119],"phase":[120],"business":[123,183],"cycle":[124,184],"decline":[126,187,204],"contraction.":[129],"other":[132],"there":[134],"are":[135],"dominated":[138],"theories":[139],"which":[143],"predominantly":[144],"argue":[145],"constant":[150],"cycle.2":[153],"rages":[157],"on,":[158],"neither":[159],"side":[160],"successfully":[162],"explained":[163],"stylized":[165],"facts":[166],"trajectory-mark-ups":[171],"increase":[172],"from":[173,188,209],"initial":[175],"trough":[176],"midexpansion":[179,203],"typical":[182],"then":[186],"point":[190],"until":[191],"terminal":[193],"trough.3":[194],"This":[195],"oversight,":[196],"particularly":[197],"inability":[199],"mark-up,":[207],"stems":[208],"lack":[212],"incomplete":[215],"consideration":[216],"mark-up.":[222],"A":[223],"shortcoming":[225],"traditional":[227],"models":[229],"independent,":[232],"rather":[233],"than":[234],"interactive,":[235],"treatment":[236],"effects":[239],"changing":[242,247],"structure":[244],"set":[248],"competitive":[250,268],"pressures":[251],"price":[253,261],"determination.":[256],"interconnection":[258],"between":[259],"cost-induced":[260],"increases":[262],"potential":[265],"intensification":[266],"(demand)":[269],"pres-":[270]},"counts_by_year":[{"year":2020,"cited_by_count":2},{"year":2015,"cited_by_count":1},{"year":2013,"cited_by_count":1},{"year":2012,"cited_by_count":1}],"updated_date":"2026-10-12T09:40:04.860316","created_date":"2016-06-24T00:00:00"}
