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<p>This paper presents novel survey evidence on how firms set prices across the private-sector Swiss economy. The survey covers all stages of the price-setting process and reveals substantial heterogeneity by sector, firm size, customer type, and sales channel. Firms combine time- and state-dependent elements when reviewing prices. Competitor-based pricing dominates over markup rules, and price discrimination is multidimensional and widespread. Price changes occur far less frequently than reviews, are typically synchronized within firms, and exhibit a slightly upward-sloping hazard of adjustment. Cost pass-through is driven mainly by labor, supplier, and raw material costs, with asymmetric responses to cost versus demand shocks. Price rigidity arises primarily from implicit and explicit contracts and cost-based pricing, while operational frictions such as menu costs play only a minor role.</p>

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How firms set their prices: survey evidence along the stages of price setting

  • 期刊论文

  • 出版模式：

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  • 发表日期：

    2026年4月10日

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  • Pascal Seiler

摘要

This paper presents novel survey evidence on how firms set prices across the private-sector Swiss economy. The survey covers all stages of the price-setting process and reveals substantial heterogeneity by sector, firm size, customer type, and sales channel. Firms combine time- and state-dependent elements when reviewing prices. Competitor-based pricing dominates over markup rules, and price discrimination is multidimensional and widespread. Price changes occur far less frequently than reviews, are typically synchronized within firms, and exhibit a slightly upward-sloping hazard of adjustment. Cost pass-through is driven mainly by labor, supplier, and raw material costs, with asymmetric responses to cost versus demand shocks. Price rigidity arises primarily from implicit and explicit contracts and cost-based pricing, while operational frictions such as menu costs play only a minor role.