Adamantios Diaman t opoulos European Business Management School, University of Wales, Swansea, U K and Brian P. Mathews University, Middlesbrough, U K INTRODUCTION Ever since Hall and Hitch (1939) challenged the profit-maximization principle of conventional (i.e. neoclassical) price theory, the question of how firms specify their pricing objectives has remained a subject of controversy in the pricing literature. In essence, this controversy centres around two interrelated issues, concerning (1) the type of pricing objectives pursued by firms and (2) the desired level of attainment associated with such objectives. With regard to the former, the major debate has been whether profit is the only (or overriding) objective underlying pricing decisions or whether other goals are of greater relevance/importance. With regard to the latter issue, attention has focused on the extent to which the actual specification of pricing objectives takes a maximizing or satisficing form. For some 30 years, the microeconomic literature was dominated by heated discussions on these questions (for relevant reviews, see Machlup, 1946, 1967; Bain, 1949; Lieberman, 1969; Boulding, 1942, 1960; Papandreou, 1952; Von Mering, 1954; Haldi, 1958; Maxcy, 1968; Horowitz, 1967; Krupp, 1963; Langholm, 1968). Largely as a result of the above debate, a number of
Managerial and Decision Economics – Wiley
Published: Jan 1, 1994
It’s your single place to instantly
discover and read the research
that matters to you.
Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.
All for just $49/month
Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly
Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.
Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.
Read from thousands of the leading scholarly journals from SpringerNature, Wiley-Blackwell, Oxford University Press and more.
All the latest content is available, no embargo periods.
“Hi guys, I cannot tell you how much I love this resource. Incredible. I really believe you've hit the nail on the head with this site in regards to solving the research-purchase issue.”Daniel C.
“Whoa! It’s like Spotify but for academic articles.”@Phil_Robichaud
“I must say, @deepdyve is a fabulous solution to the independent researcher's problem of #access to #information.”@deepthiw
“My last article couldn't be possible without the platform @deepdyve that makes journal papers cheaper.”@JoseServera