Code of Ethics - Setting a price

The setting of a price is usually based on either a "generalised mark-up" (with maybe some "local variants") or "what the market will bear". This code of ethics is for a corporation looking to set a price. It begins with an understanding of these two different methodologies. It asks the basic question, surely if someone is prepared to pay this price, that is an indicator that the price is correct? Doesn't the market decide? It looks at the history of monopolies and oligopolies and discovers that price setting can have serious social implications, leading to "fair trading" and "anti-trust" legislation being introduced into the market. It analyses the Australian

and derives from it certain ethical statements. It then goes beyond the Act to take a broader approach. It looks at some recent examples such as the price for HIV and other basic medicine in central Africa. It considers the ethics of price setting and looks at rules for minimising these ethical concerns. International corporate policy with an Australian bias.