Asymmetric Price Adjustment and Consumer Search: An Examination of the Retail Gasoline Market

This article proposes a new explanation for why retail prices respond more quickly to cost increases than cost decreases. I develop a search model that assumes consumers’ expectations of prices are based on prices observed during previous purchases. This model predicts that consumers search less whe...

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Veröffentlicht in:	Journal of economics & management strategy 2011-06, Vol.20 (2), p.409-449
1. Verfasser:	Lewis, Matthew S.
Format:	Artikel
Sprache:	eng
Schlagworte:	Consumers Costs Economic models Energy market Energy prices Gasoline prices Market structure Oil market Oil price Petrol Prices Pricing policies Retail prices Retail trade Studies
Online-Zugang:	Volltext
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