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Determinants of retail price margins and quality adjustment of price indices in retail food stores.

机译:零售食品商店零售价格边际的决定因素和价格指数的质量调整。

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摘要

Properly measuring a change in retail prices over time is important in constructing an accurate price index for the retail sector. Since a retailer implicitly bundles the physical good it sells with some distribution services, it is necessary to measure and control for the services provided by the retailer. Using five categories of retail distribution services (location accessibility, product assortment (breadth and depth), assurance of product delivery (time and form), information (prices and characteristics of the good), and ambiance) outlined in Betancourt and Gautschi (1988), the first half of my research investigates the determinants of retail price margins using a unique data set of retail food store price margins and store characteristics for a nationally representative sample of food stores. I find that all five services, when approximated by specific store characteristics, play a significant role in determining variation in price margins across stores with the magnitude of impact dependent upon the format of the store. The price margins also vary significantly across departments within each store and different distribution services play larger or smaller roles determining price margins depending on the specific department one looks at.; Based on these findings, the second half of my research presents a method for accounting for differences in distribution services across stores in calculating a producer price index. The marginal value of each of the distribution services is used to explicitly adjust the observed price changes over time. By implementing a quality adjustment methodology that controls for changes in observed characteristics of a store over time, I am able to compare a quality adjusted index to the unadjusted index and find there to be an upward bias (1% to 2%) in the producer price index for food stores. This bias is due to the fact that an observed price change is often associated with a change in distribution services provided by the retailer—a portion of the price change is due to this quality change to the good. The magnitude of the bias is sensitive to the specific type of change that occurs as well as the number of products that experience a characteristics change in a given month. This bias may exist in other retail industries and a similar adjustment to observed price changes would provide a more accurate measure of pure price change in the retail sector.
机译:正确衡量零售价格随时间的变化对于构建零售部门的准确价格指数很重要。由于零售商暗含将其销售的实物商品与某些分销服务捆绑在一起,因此有必要对零售商提供的服务进行衡量和控制。使用Betancourt和Gautschi(1988)中概述的五类零售分销服务(位置可访问性,产品分类(深度和深度),产品交付的保证(时间和形式),信息(商品的价格和特征)和氛围)。 ,我的研究的前半部分使用零售食品商店价格利润率的独特数据集和全国代表性食品商店样本的商店特征,调查了零售价格利润率的决定因素。我发现所有五项服务(按特定商店的特征进行估算)在确定各个商店的价格利润变化方面都起着重要作用,其影响程度取决于商店的形式。每家商店内各个部门的价格利润率也有很大差异,不同的分销服务或多或少地扮演着决定价格利润率的角色,具体取决于一个人所关注的特定部门。基于这些发现,我的研究的第二部分提出了一种在计算生产者价格指数时考虑跨商店分销服务差异的方法。每个分销服务的边际价值用于显式调整观察到的价格随时间的变化。通过实施一种质量调整方法论,该方法可以控制商店中观察到的特性随时间的变化,因此我可以将质量调整后的指标与未调整的指标进行比较,发现生产者中存在向上偏差(1%至2%)食品商店的价格指数。这种偏见是由于这样一个事实,即观察到的价格变化通常与零售商提供的分销服务的变化相关—价格变化的一部分是由于商品的这种质量变化而引起的。偏差的大小对发生的特定类型的变化以及给定月份中经历特性变化的产品数量敏感。这种偏差可能存在于其他零售行业中,对观察到的价格变化的类似调整将提供零售部门中纯价格变化的更准确度量。

著录项

  • 作者

    Leibtag, Ephraim S.;

  • 作者单位

    University of Maryland College Park.;

  • 授予单位 University of Maryland College Park.;
  • 学科 Economics General.; Economics Agricultural.; Economics Commerce-Business.
  • 学位 Ph.D.
  • 年度 2002
  • 页码 110 p.
  • 总页数 110
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类 经济学;农业经济;贸易经济;
  • 关键词

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