priserpriser
Priserpriser is a theoretical concept in economics and computational pricing that refers to a dynamic, iterative process in which market prices are continually updated in response to observed demand, competitor pricing, and previous price movements. The term emphasizes the recursive nature of price formation, where each adjustment becomes new information that influences subsequent decisions by buyers and sellers.
Origin and usage: The term prisserpriser is a neologism coined in educational materials and agent-based simulations
Mechanism: A simple prisserprisers model begins with an initial price p0. Demand is a function D(p). After
Applications and limitations: In teaching, prisserpriser helps illustrate how feedback loops affect price stability and market
See also: dynamic pricing, price elasticity of demand, feedback loop, algorithmic pricing, agent-based modeling.