expensive for consumers to operate an automobile. In this paper we investigate whether consumers have adjusted to gasoline price … car markets. We find that a $1 increase in gasoline price changes the market shares of the most and least fuel …-efficient quartiles of new cars by +20% and -24%, respectively. In contrast, the same gasoline price increase changes the market shares of …

lowers prices for two distinct reasons. First, the Internet helps consumers learn the invoice price of …the Internet, also helps consumers obtain lower prices. The combined information and referral price …

.2% less than do offline consumers. After controlling for selection, we find that using Autobytel.com reduces the price a … have obtained a low price even in the absence of the Internet. Instead, our finding is consistent with consumers choosing …