Term:
Administered prices (set by firms)
Definition:
Administered prices are prices set by firms that do not vary in response to short-run fluctuations in demand and supply conditions.
Domain:
Finance
Source:
Glossary of Industrial Organisation Economics and Competition Law, compiled by R. S. Khemani and D. M. Shapiro, commissioned by the Directorate for Financial, Fiscal and Enterprise Affairs, OECD, 1993
