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5 - The Rise and Uneasy Decline of the Impersonal Price

from Part I - Understanding the Phenomenon

Published online by Cambridge University Press:  20 March 2025

Fabrizio Esposito
Affiliation:
NOVA Law School (Portugal)
Mateusz Grochowski
Affiliation:
Tulane University, Louisiana
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Summary

This chapter deals with a market arrangement at a moment of uncertainty and concern around its continued existence. This arrangement is what I call the impersonal price, or a system of impersonal retail prices, elsewhere also referred to as a system of fixed prices. These phrases describe markets where prices are visible, homogeneous across customers, and non-negotiable. As the chapter shows, impersonal retail prices did not just happen. They are the product of complex interactions between legal regulation, material-technical arrangements, and economic theories, as mobilized in different historical contexts to different socio-political and economic ends.

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Publisher: Cambridge University Press
Print publication year: 2025

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