MISSING PRICE INFORMATION AND ITS IMPACT ON EQUILIBRIUM PRICE DISPERSION: EVIDENCE FROM GASOLINE SIGNBOARDS

被引：0

作者：

Noel, Michael D. ^{[1
]}

Qiang, Hongjie ^{[2
]}

机构：

[1] Texas Tech Univ, Sch Art & Sci, Lubbock, TX USA

[2] Cent South Univ, Sch Business, Changsha, Hunan, Peoples R China

来源：

JOURNAL OF INDUSTRIAL ECONOMICS | 2023年 / 71卷 / 03期

基金：

中国国家自然科学基金;

关键词：

CONSUMER SEARCH; LOCAL MARKET; RISE FASTER; COMPETITION; FEATHERS; ROCKETS; INTERNET; RESPOND; ADJUSTMENT; COSTS;

D O I：

10.1111/joie.12336

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This article seeks to quantify the importance of price information in reducing consumer search costs and equilibrium price dispersion in a competitive setting. It exploits a natural experiment in the retail gasoline industry in which stations post the prices of only certain grades of gasoline on large street-side signboards, and not others, except where required by law. Differential-by-grade signboard information predicts a specific curvature in price dispersion across grades, and differentiates itself from other noninformational factors such as income and cost. The impact of readily-available price information on search and price dispersion is found to be exceptionally large.

引用

页码：814 / 854

页数：41

共 62 条

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