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Peer reviewedSullivan, Edward J.; Weithers, Timothy M. – Journal of Economic Education, 1991
Observes that, before 1973, determining a valuation formula for option prices was an elusive goal of financial economics. Discusses Louis Bachelier's early twentieth-century work on the problem. Notes that Bachelier derived a normal distribution for stock price movements by modeling price changes in specific way. Reviews Bachelier's option pricing…
Descriptors: Cost Indexes, Economic Research, Economics Education, Educational History
Peer reviewedSorenson, Timothy L. – Journal of Economic Education, 2004
Strategic pricing is an important and exciting topic in industrial organization and the economics of strategy. A wide range of texts use what has become a standard version of the Milgrom and Roberts (1982a) limit-pricing model to convey the essential ideas of strategic pricing under incomplete information. In addition to providing a formal, but…
Descriptors: Game Theory, Models, Economics, Strategic Planning
