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Ethics In Pricing Decisions

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Ethical concept on Pricing Decisions
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Solution Summary

This solution of 177 words explains ethics in pricing decisions in two main steps with examples. The sources used are also included in the solution.

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Step 1
There are some standard ethical concepts that apply to pricing decisions. From deontology, it is the duty of the market to set fair prices. From the perspective of virtue ethics it is an act of poor character to set prices that are unjust or illegitimately enrich the seller (a). From the perspective of consequential ethics, the prices should not be set in such a way that the ...

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