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MONOPOLY ® PRICING
Author(s) -
CAWLEY JOHN,
KENKEL DONALD S.
Publication year - 2010
Publication title -
economic inquiry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.823
H-Index - 72
eISSN - 1465-7295
pISSN - 0095-2583
DOI - 10.1111/j.1465-7295.2009.00199.x
Subject(s) - monopoly , economics , microeconomics , empirical examination , average cost pricing , rational pricing , financial economics , actuarial science , capital asset pricing model
There is a large and rich literature in economics on monopoly pricing. However, a close examination of this literature reveals a surprising gap: there have been virtually no studies of Monopoly ® pricing. We fill that void with an empirical examination of the pricing of the board game Monopoly ® . In particular, we examine market‐level, quarterly prices from 1990 to 2002 and find substantial evidence of the phenomenon of customary pricing. ( JEL L83, L1, L12, Z11, D42)