| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w4489 |
| 来源ID | Working Paper 4489 |
| Dynamic Pricing in Retail Gasoline Markets | |
| Severin Borenstein; Andrea Shepard | |
| 发表日期 | 1993-10-01 |
| 出版年 | 1993 |
| 语种 | 英语 |
| 摘要 | This paper tests for price patterns in retail gasoline markets consistent with those predicted by models of implicit collusion among firms. Recent supergame models show that the highest supportable collusive price is a function of today's profit relative to expected future profit: collusive prices are higher when predictable changes in demand or cost lead firms to expect that collusive profits are increasing rather than declining. Ceteris paribus, collusive profits will be expected to increase when demand is expected to increase and/or costs are expected to decline. Using panel data on sales volume, and retail and wholesale prices in 59 cities over 72 months, we find results consistent with these predictions. Controlling for current demand and input price, the elasticity of current retail margins with respect to expected next-month demand is about 0.37. The elasticity of current margins with respect to next-month wholesale price is about -0.37. The results are inconsistent with inventory effects. |
| URL | https://www.nber.org/papers/w4489 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/561866 |
| 推荐引用方式 GB/T 7714 | Severin Borenstein,Andrea Shepard. Dynamic Pricing in Retail Gasoline Markets. 1993. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w4489.pdf（2516KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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