Edgeworth Price Cycles in Gasoline: Evidence from the U.S. by Federal Trade Comm

Description: Edgeworth Price Cycles in Gasoline by Federal Trade Commission Estimated delivery 3-12 business days Format Paperback Condition Brand New Description Studies of gasoline prices in multiple countries have found a repeated sequence of asymmetric cycles where a sharp price increase is followed by gradual decreases. This price pattern is linked to Maskin & Tiroles (1988) theoretical duopoly pricing game that produces a similar pattern, Edgeworth price cycles. We examine data on average daily city-level retail gasoline and diesel prices for 355 cities in the U.S. from 2001-2007 using multiple methods to identify price cycles. We show that a relatively small number of U.S. cities concentrated in a number of contiguous upper Midwestern states evidence Edgeworth cycle-like pricing behavior. Within our data set cities tend to either cycle in all years or they do not cycle at all. We examine prices in cycling and non-cycling cites controlling for other factors and find consumers are no worse off, and likely better off, on average, in cycling than non-cycling cities. Finally, unlike previous studies, we find that some vertically integrated (branded) retail gasoline stations are themselves potentially important drivers of the scale and scope of cycling in retail gasoline prices. Details ISBN 1502479540 ISBN-13 9781502479549 Title Edgeworth Price Cycles in Gasoline Author Federal Trade Commission Format Paperback Year 2014 Pages 30 Publisher Createspace Independent Publishing Platform GE_Item_ID:93330957; About Us Grand Eagle Retail is the ideal place for all your shopping needs! With fast shipping, low prices, friendly service and over 1,000,000 in stock items - you're bound to find what you want, at a price you'll love! Shipping & Delivery Times Shipping is FREE to any address in USA. Please view eBay estimated delivery times at the top of the listing. Deliveries are made by either USPS or Courier. We are unable to deliver faster than stated. International deliveries will take 1-6 weeks. NOTE: We are unable to offer combined shipping for multiple items purchased. This is because our items are shipped from different locations. Returns If you wish to return an item, please consult our Returns Policy as below: Please contact Customer Services and request "Return Authorisation" before you send your item back to us. Unauthorised returns will not be accepted. Returns must be postmarked within 4 business days of authorisation and must be in resellable condition. Returns are shipped at the customer's risk. We cannot take responsibility for items which are lost or damaged in transit. For purchases where a shipping charge was paid, there will be no refund of the original shipping charge. Additional Questions If you have any questions please feel free to Contact Us. Categories Baby Books Electronics Fashion Games Health & Beauty Home, Garden & Pets Movies Music Sports & Outdoors Toys

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