law of one price

简明释义

单一价格法则

英英释义

例句

1.In a perfectly competitive market, the law of one price ensures that identical goods have the same price.

在一个完全竞争的市场中，同价法则确保相同的商品具有相同的价格。

2.The law of one price can help explain why currency exchange rates fluctuate.

同价法则可以帮助解释为什么货币兑换率波动。

3.E-commerce platforms often rely on the law of one price to set competitive pricing strategies.

电子商务平台通常依赖于同价法则来制定竞争性定价策略。

4.If two identical products are sold at different prices, the law of one price suggests that consumers will buy from the cheaper source.

如果两个相同的产品以不同的价格出售，同价法则表明消费者会选择从更便宜的来源购买。

5.The concept of the law of one price is essential in understanding how arbitrage works in financial markets.

理解套利在金融市场中如何运作时，同价法则的概念至关重要。

作文

The concept of the law of one price is fundamental in economics and international trade. It asserts that in an efficient market, identical goods must sell for the same price when expressed in a common currency, assuming no transportation costs and no differential taxes applied in the two markets. This principle is essential for understanding how prices are determined across different markets and is particularly relevant in the context of globalization.To illustrate the law of one price, consider a simple example involving a product such as a smartphone. If a particular model of smartphone is priced at $800 in the United States, the law of one price suggests that it should also be available at the equivalent price in other countries when adjusted for exchange rates. If the same smartphone is found for $900 in Europe, this discrepancy would indicate an arbitrage opportunity, where traders could buy the smartphone in the U.S. and sell it in Europe for a profit until the prices converge to eliminate the difference.The law of one price is closely related to the concept of purchasing power parity (PPP), which extends the idea to a broader range of goods and services. PPP posits that over time, exchange rates will adjust so that the same basket of goods costs the same amount in different countries. For instance, if a basket of goods costs $100 in the U.S. and €90 in Europe, the exchange rate should adjust so that $1 equals €0.90. This alignment reflects the law of one price on a larger scale, emphasizing that currency values should reflect the relative cost of goods and services.However, real-world factors can complicate the application of the law of one price. Transportation costs, tariffs, taxes, and market imperfections can lead to price discrepancies that deviate from this theoretical framework. For example, if there are high shipping costs or tariffs on imported goods, the prices may not align perfectly, violating the law of one price. Additionally, consumer preferences, brand loyalty, and local market conditions can influence pricing strategies, leading to variations that the law does not account for.Moreover, the law of one price assumes that markets are efficient, meaning that information is freely available, and there are no barriers to entry for traders. In reality, information asymmetry and market inefficiencies can prevent prices from equalizing. For instance, if consumers in one country are unaware of lower prices in another country, they may continue to purchase at higher prices, perpetuating the discrepancy.In conclusion, while the law of one price provides a useful theoretical framework for understanding price determination in international markets, its practical application is often hindered by various factors. Economic agents must consider transportation costs, taxes, and market conditions when evaluating price differences across borders. Despite these challenges, the law of one price remains a cornerstone of economic theory, illustrating the interconnectedness of global markets and the importance of price uniformity in promoting fair trade practices.

“同价法则”的概念在经济学和国际贸易中是基础性的。它主张在一个有效的市场中，相同的商品在以共同货币表示时必须以相同的价格出售，前提是没有运输成本和两个市场之间没有差异税收。这个原则对于理解不同市场中价格是如何确定的至关重要，尤其是在全球化的背景下。为了说明“同价法则”，我们可以考虑一个简单的例子，涉及一款智能手机。如果某款智能手机在美国的售价为800美元，“同价法则”表明，当按汇率调整后，它在其他国家的价格也应该相同。如果在欧洲发现同款智能手机的售价为900美元，这一差异将表明存在套利机会，交易者可以在美国购买智能手机并在欧洲以更高的价格出售，直到价格趋于一致，消除差异。“同价法则”与购买力平价（PPP）的概念密切相关，后者将这一思想扩展到更广泛的商品和服务。购买力平价主张，随着时间的推移，汇率将调整，以便在不同国家同一篮子商品的成本相同。例如，如果在美国一篮子商品的成本为100美元，而在欧洲为90欧元，则汇率应调整，使得1美元等于0.90欧元。这种一致性反映了“同价法则”在更大范围内的应用，强调货币价值应反映商品和服务的相对成本。然而，现实世界的因素可能会使“同价法则”的应用变得复杂。运输成本、关税、税收和市场不完善可能导致价格差异偏离这一理论框架。例如，如果进口商品的运输成本或关税很高，价格可能不会完全一致，从而违反“同价法则”。此外，消费者偏好、品牌忠诚度和当地市场条件也会影响定价策略，导致价格的变化超出该法则的考虑。此外，“同价法则”假设市场是有效的，这意味着信息是自由可得的，并且没有交易者进入的障碍。实际上，信息不对称和市场不效率可能会阻止价格的统一。例如，如果一个国家的消费者不知道另一个国家的较低价格，他们可能会继续以较高的价格购买，从而延续这一差异。总之，尽管“同价法则”提供了一个有用的理论框架来理解国际市场中的价格决定，但其实际应用往往受到各种因素的阻碍。经济主体在评估跨境价格差异时必须考虑运输成本、税收和市场条件。尽管面临这些挑战，“同价法则”依然是经济理论的基石，展示了全球市场的相互联系以及价格统一在促进公平贸易实践中的重要性。