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Author : Justus Haucap
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (981 download)
Download or read book Price Dispersion and Station Heterogeneity on German Retail Gasoline Markets written by Justus Haucap and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Kai Fischer
Publisher :
ISBN 13 : 9783863044039
Total Pages : 0 pages
Book Rating : 4.0/5 (44 download)
Download or read book The Heterogeneous Effects of Entry on Prices written by Kai Fischer and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the effect of entry on the price distribution in the German retail gasoline market. Exploiting more than 700 entries over five years in an event study design, we find that entry causes a persistent first-order stochastic shift in the price distribution. Prices at the top of the distribution change moderately only, but prices at the left tail decrease by up to 12% of stations' gross margins. Consumers with easy access to information on prices gain the most from entry. The reduction in transaction prices is 32-44% stronger for fully informed consumers than for uninformed consumers.
Author : Anna Olga Smolnik
Publisher : Cuvillier Verlag
ISBN 13 : 3736984669
Total Pages : 124 pages
Book Rating : 4.7/5 (369 download)
Download or read book Essays on Market Response to Changes in Costs and Price Transparency written by Anna Olga Smolnik and published by Cuvillier Verlag. This book was released on 2017-01-25 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dissertation consists of three empirical studies and takes a closer look at price fluctuations using German gasoline prices as an example for a homogenous good. It analyzes consumers’ reaction to price fluctuations and respectively the pricing behavior of firms. The first paper, which was developed with co-authorship, explores consumers’ online price search effects on the pricing behavior of firms (gasoline price level and price dispersion). As regulators have recently implemented a mechanism for reporting all price changes to a central data base, the core assumption of this price reporting scheme is that the increase in price transparency will lead to a decline in the price level and a reduction in price dispersion. The second study addresses the question whether German gas stations adjust their retail prices asymmetrically in response to crude oil price changes, i.e., whether gas stations react quicker to crude oil price increases than to crude oil price decreases. The third study aims to analyze whether consumers react more strongly to gasoline price increases or to price decreases when considering buying a new vehicle.
Author : Ambarish Chandra
Publisher :
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (129 download)
Download or read book Consumer Search and Dynamic Price Dispersion written by Ambarish Chandra and published by . This book was released on 2011 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the role of imperfect information in explaining price dispersion. We use a new panel dataset on the U.S. retail gasoline industry, and propose a new test of temporal price dispersion to establish the importance of consumer search. We show that price rankings vary significantly over time; however, they are more stable among stations at the same street intersection. We establish the equilibrium relationships between price dispersion and key variables from consumer search models. Price dispersion increases with the number of firms in the market, decreases with the production cost and increases with search costs.
Author : Christoph Kleineberg
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (119 download)
Download or read book Market Definition of the German Retail Gasoline Industry on Highways and Those in the Immediate Vicinity written by Christoph Kleineberg and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The geographical definition of markets is a crucial challenge for economists. With the availability of multiple tools to compare prices, the idea of market definition is entering a new era as it infiltrates the digital sphere. Since December 1st, 2013 the market transparency unit of the Federal German Cartel Office is forwarding all prices, for every gasoline type, at every gasoline station in Germany at all times, through consumer information services to consumers by the means of websites or smartphone apps. Gasoline is a perfectly homogenous product as there is no alternative for its consumption by car, bus or truck drivers in the short or medium run. The availability of price data allows us to study what premiums drivers are willing to pay in order to avoid search costs or additional driving distances. The research question is how prices of highway gasoline stations are dependent upon prices offered by street gasoline stations in the vicinity, and what additional price customers are willing to pay to avoid searching for another gasoline station away from the highway. Results indicate that there is a premium of 10 to 11 cents per litre throughout the day and 15 cents per litre in the evening on gasoline sold by stations on the highway. When checked for robustness, results indicate that the pricing behavior of gasoline stations differ depending on the particular market environment. There is no uniform pricing behavior of highway gasoline stations. Some highway gasoline station are setting their prices independently from the gasoline stations in the vicinity, other are acting like regular gasoline stations and do not even charge an additional premium. Furthermore, a high frequency of traffic on highways leads to lower prices whereas a high population density leads to higher prices.
Author : Carlos Hurtado
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Price Differences Within Retail Gasoline Markets written by Carlos Hurtado and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper characterizes fueling stations' pricing strategies to study price differentials within retail gasoline markets. We use a unique dataset with stations' locations and daily gasoline prices in the major cities of the continental U.S. to classify cycler and non-cycler stations. We exploit station-level variability in pricing behavior within retail gasoline markets to show that cyclers charge about 4¢ lower gasoline prices than non-cyclers, on average. Additionally, we confirm an almost biweekly duration of the station-level cycling behavior. Finally, we provide evidence of consumer search to explain the intra-market pricing strategy heterogeneity.
Author : Dieter Pennerstorfer
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Information and Price Dispersion written by Dieter Pennerstorfer and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Limited information is the key element generating price dispersion in models of homogeneous-goods markets. We show that the global relationship between information and price dispersion is an inverse-U shape. We test this mechanism for the retail gasoline market using a new measure of information based on commuter data from Austria. Commuters sample gasoline prices on their commuting route, providing us with spatial variation in the share of informed consumers. Our empirical estimates are in line with the theoretical predictions. We also quantify how information affects average prices paid and the distribution of surplus in the gasoline market.
Author : Taehwan Kim
Publisher :
ISBN 13 :
Total Pages : 37 pages
Book Rating : 4.:/5 (13 download)
Download or read book Price Competition and Market Segmentation in Retail Gasoline written by Taehwan Kim and published by . This book was released on 2017 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: I examine price dispersion in retail gasoline and focus on differentiation along the service dimension: full service versus self service. Consistent with more intensive search by self-service customers, I find that price dispersion always decreases with the number of nearby self-service stations, but does not decrease with the number of nearby full-service stations. When I segment the market by brand, I observe that the estimates are sensitive to how brands are separated into different types. These findings show that the market is more clearly segmented by service level than by brand type and also highlight the importance of product differentiation when modeling price dispersion.
Author : Alexander Kihm
Publisher :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (13 download)
Download or read book Is the German Retail Gas Market Competitive? written by Alexander Kihm and published by . This book was released on 2015 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: We explore whether non-competitive pricing prevails in Germany's retail gasoline market by examining the influence of the crude oil price on the retail gasoline price, focusing specifically on how this influence varies according to the brand and to the degree of competition in the vicinity of the station. Our analysis identifies several factors other than cost - including the absence of nearby competitors and regional market concentration - that play a significant role in mediating the influence of the oil price on the retail gas price, suggesting price setting power among stations.
Author : Riemer P. Faber
Publisher :
ISBN 13 :
Total Pages : 41 pages
Book Rating : 4.:/5 (477 download)
Download or read book Asymmetric Price Responses of Gasoline Stations written by Riemer P. Faber and published by . This book was released on 2009 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jeremy A. Verlinda
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.F/5 ( download)
Download or read book Price-response Asymmetry and Spatial Differentiation in Local Retail Gasoline Markets written by Jeremy A. Verlinda and published by . This book was released on 2007 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Melissa Bantle
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (18 download)
Download or read book A New Price Test in Geographic Market Definition - an Appliation to German Retail Gasoline Market written by Melissa Bantle and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : David P. Byrne
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The Internet, Search, and Asymmetric Pricing written by David P. Byrne and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: How does the Internet effect retail pricing? In contrast to previous empirical research that focuses on price dispersion and static margins, this paper examines how the Internet and web-based price clearing houses effect dynamic asymmetric pricing adjustment (e.g., "rockets and feathers"). We exploit a unique policy intervention in the context of the retail gasoline market that introduced a price clearinghouse in some markets but not others. We find stark evidence that the policy eliminated asymmetric price adjustment and increase the rate of passthrough of falling costs to retail prices. These results support search-based explanations for asymmetric price adjustment.
Author : Emmanuel Asane-Otoo
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (116 download)
Download or read book Rockets and Feathers Revisited written by Emmanuel Asane-Otoo and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we revisit the empirical observation that prices rise like rockets when input costs increase but fall like feathers when input costs decrease. The analysis draws on a novel dataset that include daily retail prices of gasoline and diesel from virtually all fuel stations in Germany over the period from January 1, 2014 to December 31, 2018. Our findings from the national, state-specific and station-level analyses based on an asymmetric error correction model indicate that asymmetric pricing is the norm rather than exception. Specifically, we find empirical evidence that points to a pervasive rockets-and-feathers pattern. We also find that asymmetric pricing in the German retail fuel market might partly be the consequence of tacit collusion among competitors as well as disparate search intensity on the part of consumers. We further show that temporal aggregation of station-level price data might lead to inaccurate inferences and could account for the contradictory findings in the extant literature.
Author : Melissa Bantle
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (119 download)
Download or read book A New Price Test in Geographic Market Definition written by Melissa Bantle and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Felipe Balmaceda
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Asymmetric Dynamic Pricing in a Local Gasoline Retail Market written by Felipe Balmaceda and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Asymmetric-price adjustment is a common phenomenon in many markets around the world, particularly in retail gasoline markets. This paper studies the existence of this phenomenon in the retail gasoline market in the city of Santiago, Chile, using a data set of weekly gas station prices that covers a period of almost four years. We found that prices adjust asymmetrically, and the asymmetry is different for branded gas stations and unbranded stations. In addition, we found that the asymmetry for high-margin stations is statistically equivalent to that for low-margin stations. This evidence is suggestive of collusion as a rationale for the asymmetric pricing policy observed.
Author : Vicente Soler i Marco
Publisher :
ISBN 13 :
Total Pages : 39 pages
Book Rating : 4.:/5 (129 download)
Download or read book Dynamic pricing in retail gasoline markets written by Vicente Soler i Marco and published by . This book was released on 1993 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:
