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Demand Uncertainty and Sales: A Study of Fashion and Markdown Pricing
B. Peter Pashigian
The American Economic Review
Vol. 78, No. 5 (Dec., 1988), pp. 936-953
Published by: American Economic Association
Stable URL: http://www.jstor.org/stable/1807158
Page Count: 18
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Abstract
The frequency of sales has increased dramatically in recent years. Paradoxically, the percentage markup has also increased. Markdowns and markups are higher in some departments of department stores than in others. The major theme of the paper is that the growing role of fashion and product variety is an important reason for these increases and for the differences between merchandise groups.
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The American Economic Review © 1988 American Economic Association