Price Response Asymmetry And Spatial Differentiation In Local Retail Gasoline Markets
DOWNLOAD
Download Price Response Asymmetry And Spatial Differentiation In Local Retail Gasoline Markets PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Price Response Asymmetry And Spatial Differentiation In Local Retail Gasoline Markets book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Price Response Asymmetry And Spatial Differentiation In Local Retail Gasoline Markets
DOWNLOAD
Author : Jeremy A. Verlinda
language : en
Publisher:
Release Date : 2007
Price Response Asymmetry And Spatial Differentiation In Local Retail Gasoline Markets written by Jeremy A. Verlinda and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Gasoline categories.
Price Response Asymmetry And Spatial Differentiation In Local Retail Gasoline Markets
DOWNLOAD
Author : Jeremy A. Verlinda
language : en
Publisher: BiblioGov
Release Date : 2013-06
Price Response Asymmetry And Spatial Differentiation In Local Retail Gasoline Markets written by Jeremy A. Verlinda and has been published by BiblioGov this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-06 with categories.
This study explores the possibility that local market power influences the observed asymmetric relationship between changes in wholesale gasoline costs and changes in retail gasoline prices. I exploit an original data set of weekly gas station prices in Southern California from September 2002 to May 2003, and take advantage of detailed station and local market level characteristics to determine the extent to which spatial differentiation influences price response asymmetry. I find that brand identity, proximity to rival stations, bundling and advertising, operation type, and local market features and demographics each influence a station's predicted price-response asymmetry.
Price Response Asymmetry And Spatial Differetntiation In Local Retail Gasoline Markets
DOWNLOAD
Author : Jeremy A. Verlinda
language : en
Publisher:
Release Date : 2007
Price Response Asymmetry And Spatial Differetntiation In Local Retail Gasoline Markets written by Jeremy A. Verlinda and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
Asymmetries In Retail Gasoline Price Dynamics And Local Market Power
DOWNLOAD
Author : George Deltas
language : en
Publisher:
Release Date : 2007
Asymmetries In Retail Gasoline Price Dynamics And Local Market Power written by George Deltas and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
Using monthly data from the 48 contiguous states (except Nevada) for the 1988-2002 period, it is shown that retail gasoline prices respond faster to wholesale price increases than to equivalent wholesale price decreases. Moreover, markets with high average retail-wholesale margins experience a slower adjustment and a higher degree of asymmetry. These results are robust to whether or not an error correction term is used, and to a number of other specifications. Since gasoline is the only variable input, one could reasonably assume that average margins in a state reflect the degree of market power at the retail level. This suggests that sticky prices and response asymmetries in the gasoline market are, at least partially, a consequence of retail market power, raising the possibility that slow price adjustments and asymmetric price responses could be used as an indicator of potential departure from perfect competition. It is also shown that out-of-sample forecasts based on asymmetric models yield substantially better predictions for the path of retail prices than forecasts based on the symmetric models. This result is robust to different measures of forecast accuracy. The higher accuracy of the out-of-sample forecasts based on asymmetric models indicates that these asymmetries are not just an outcome of fitting to a particular sample but represent the underlying data generating process.
Perfect Competition Spatial Competition And Tax Incidence In The Retail Gasoline Market
DOWNLOAD
Author : James Alm
language : en
Publisher:
Release Date : 2006
Perfect Competition Spatial Competition And Tax Incidence In The Retail Gasoline Market written by James Alm and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
In this paper we use monthly gasoline price data for all fifty U.S. states over the period 1984 to 1999 to examine the incidence of state gasoline excise taxes. Standard economic theory predicts full shifting of the excise tax to consumers when the supply of gasoline is perfectly elastic, and our empirical results are largely consistent with this prediction. In general, we find full shifting of gasoline taxes to the final consumer, with changes in gasoline taxes fully reflected in the tax-inclusive gasoline price almost instantly, a result consistent with a retail gasoline market in which firms are perfectly competitive and produce at constant cost. In addition, although we find that gasoline retail prices demonstrate asymmetric responses to changes in gasoline wholesale prices, we find only limited evidence of such behavior for retail prices with respect to gasoline excise taxes. Importantly, we also present a novel application of a spatial price discrimination model to examine tax incidence in markets that are not perfectly competitive. In this alternative framework, the incidence of excise taxes depends upon the competitiveness of retail gasoline markets, which depends in turn on spatial aspects of the market. Consistent with this alternative theoretical framework, our empirical estimates demonstrate that gasoline markets in urban states exhibit full shifting, but those in rural states demonstrate somewhat less than full shifting.
Product Differentiation Competition And Prices In The Retail Gasoline Industry
DOWNLOAD
Author : Mark David Manuszak
language : en
Publisher:
Release Date : 2000
Product Differentiation Competition And Prices In The Retail Gasoline Industry written by Mark David Manuszak and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Gasoline categories.
This thesis presents a series of studies of the retail gasoline industry using data from Hawaii. This first chapter examines a number of pricing patterns in the data and finds evidence that gasoline stations set prices which are consistent with a number of forms of price discrimination. The second chapter analyzes various patterns of cross-sectional, cross-market and intertemporal variation in the data to investigate their suitability for use in structural econometric estimation. The remainder of the dissertation consists of specification and estimation of a structural model of supply and demand for retail gasoline products sold at individual gasoline stations. This detailed micro-level analysis permits examination of a number of important issues in the industry, most notably the importance of spatial differentiation in the industry. The third chapter estimates the model and computes new equilibria under a number of asymmetric taxation regimes in order to examine the impact of such tax policies on producer and consumer welfare as well as tax revenue. The fourth chapter examines whether there is any evidence of tacitly collusive behavior in the Hawaiian retail gasoline industry and concludes that, in fact, conduct is fairly competitive in this industry and market.
An Empirical Investigation Of Product Differentiation In The Retail Gasoline Industry
DOWNLOAD
Author : James Joshua Light
language : en
Publisher:
Release Date : 2004
An Empirical Investigation Of Product Differentiation In The Retail Gasoline Industry written by James Joshua Light and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Gasoline industry categories.
Do Rockets Rise Faster And Feathers Fall Slower In An Atmosphere Of Local Market Power Evidence From The Retail Gasoline Market
DOWNLOAD
Author : Jeremy A. Verlinda
language : en
Publisher:
Release Date : 2007
Do Rockets Rise Faster And Feathers Fall Slower In An Atmosphere Of Local Market Power Evidence From The Retail Gasoline Market written by Jeremy A. Verlinda and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
This study explores the possibility that local market power influences the observed asymmetric relationship between changes in wholesale gasoline costs and changes in retail gasoline prices. I exploit an original data set of weekly gas station prices in Southern California from September 2002 to May 2003, and take advantage of detailed station and local market level characteristics to determine the extent to which geographic and product differentiation influences price response asymmetry. I find that brand identity, proximity to rival stations, and local market features and demographics each influence a station's predicted price-response asymmetry. Web Appendix available at: http://ssrn.com/abstract=1000964.
Asymmetric Dynamic Pricing In A Local Gasoline Retail Market
DOWNLOAD
Author : Felipe Balmaceda
language : en
Publisher:
Release Date : 2008
Asymmetric Dynamic Pricing In A Local Gasoline Retail Market written by Felipe Balmaceda and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
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.
Spatial Differentiation And Vertical Contracts In Retail Markets For Gasoline
DOWNLOAD
Author : Jean-Francois Houde
language : en
Publisher:
Release Date : 2009
Spatial Differentiation And Vertical Contracts In Retail Markets For Gasoline written by Jean-Francois Houde and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
This paper studies an empirical model of spatial competition and evaluates the impact of vertical relations on prices and consumer welfare. The main feature of my approach is to specify commuting paths as the "locations" of consumers in a Hotelling-style model. As a result spatial differentation depends in an intuitive way on the structure of the road network and the direction of traffic flows. The model is estimated using panel data on the Québec City gasoline market, and used to quantify markups and simulate two important counter-factual policies: elimination of vertical integration, and wholesale price discrimination ban.