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Pricing Theory in Post Keynesian Economics

A Realist Approach. New Directions in Modern Economics Series

By (author) Paul Downward
Format: Hardback
Publisher: Edward Elgar Publishing Ltd, Cheltenham, United Kingdom
Published: 1st Jan 1999
Dimensions: w 216mm h 138mm
Weight: 650g
ISBN-10: 1858987911
ISBN-13: 9781858987910
Barcode No: 9781858987910
Synopsis
This timely book explores the defining features of post Keynesian economics through an examination of pricing, and empirically investigates pricing behaviour from the post Keynesian point of view. It uses a synthesis of ideas from realist philosophy and methodology to explore post Keynesian pricing theory and identifies a coherent core of post Keynesian pricing theory, strongly supported by a wide range of evidence. Paul Downward critically reviews and extends both the econometric and the non-econometric evidence as a basis of understanding the causal processes of pricing. Taking into account Keynes's notions of the `weight of evidence' and `negative analogy,' the post Keynesian account of pricing offered in the book appears compelling. The evidence presented by the author will raise substantial questions about neoclassical accounts of pricing. This book will be required reading for those interested in post Keynesian economics, methodology, behavioural economics and institutional economics as well as for marketing and management theorists and those generally interested in pricing decisions.

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