Abstract
This chapter introduces the concept of a <em>pricing modality</em>. 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").
Full Citation
.
“The History and Future of Pricing.”
In Oxford Handbook of Pricing Management,
edited by Özalp Özer and Robert Phillips,
New York:
Oxford University Press,
2012.