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Why are Prices Sticky? The Dynamics of Wholesale Gasoline Prices

Davis, Michael C.; Hamilton, James D. - 2021

The menu-cost interpretation of sticky prices implies that the probability of a price change should depend on the past history of prices and fundamentals only through the gap between the current price and the frictionless price. We find that this prediction is broadly consistent with the...

Persistent link: https://www.econbiz.de/10013247247

Market Segmentation and the Sources of Rents from Innovation : Personal Computers in the Late 1980'S

Bresnahan, Timothy F.; Stern, Scott; Trajtenberg, Manuel - 2021

This paper evaluates the sources of transitory market power in the market for personal computers (PCs) during the late 1980's. Our analysis is motivated by the coexistence of low entry barriers into the PC industry and high rates of innovative investment by a small number of PC manufacturers. We...

Persistent link: https://www.econbiz.de/10013245713

The Theory of Allocation and its Implications for Marketing and Industrial Structure

Carlton, Dennis W. - 2021

This paper identifies a cost of using the price system and from that develops a general theory of allocation. The … theory explains why a buyer's stochastic purchasing behavior matters to a seller. This leads to a theory of optimal customer … mix much akin to the theory of optimal portfolio composition. It is the job of a firm's marketing department to put …

Persistent link: https://www.econbiz.de/10013229126

A Dynamic Model of Price Discrimination and Inventory Management at the Fulton Fish Market

Graddy, Kathryn; Hall, George J. - 2010

We estimate a dynamic profit-maximization model of a fish wholesaler who can observe consumer characteristics, set individual prices, and thus engage in third-degree price discrimination. Simulated prices and quantities from the model exhibit the key features observed in a set of high quality...

Persistent link: https://www.econbiz.de/10014046479

A Dynamic Model of Price Discrimination and Inventory Management at the Fulton Fish Market

Graddy, Kathryn - 2015

Persistent link: https://www.econbiz.de/10013039486

Trading Inefficiencies in California'S Electricity Markets

Borenstein, Severin; Bushnell, James B.; Knittel, … - 2021

We study price convergence between the two major markets for wholesale electricity in California from their deregulation in April 1998 through November 2000, nearly the end of trading in one market. We would expect profit-maximizing traders to have eliminated persistent price differences between...

Persistent link: https://www.econbiz.de/10013218707

Estimating the Effect of Salience in Wholesale and Retail Car Markets

Busse, Meghan R.; Lacetera, Nicola; Pope, Devin G.; … - 2021

We investigate whether the first digit of an odometer reading is more salient to consumers than subsequent digits. We find that retail transaction prices and volumes of used vehicles drop discontinuously at 10,000-mile odometer thresholds, echoing effects found in the wholesale market by...

Persistent link: https://www.econbiz.de/10013225007

Hours of Work and the Fair Labor Standards Act : A Study of Retail and Wholesale Trade, 1938-1950

Costa, Dora L. - 2021

I examine the impact of the overtime provisions of the Fair Labor Standards on weekly hours worked between 1938 and 1950 by comparing workers in wholesale trade, a sector which was covered by the Act, with those in retail trade, a sector which was not. I find that the Act reduced hours worked,...

Persistent link: https://www.econbiz.de/10013237008

The Effect of Price Advertising and Prices : Evidence in the Wake of 44 Liquormart

Milyo, Jeff; Waldfogel, Joel - 2021

In May 1996 the U.S. Supreme Court struck down Rhode Island's ban on advertising prices of alcoholic beverages, making Rhode Island the subject of a natural experiment for measuring the impact of advertising on prices. Using Massachusetts prices as controls, we find that while advertising stores...

Persistent link: https://www.econbiz.de/10013237253

Wholesalers and Retailers in U.S. Trade (Long Version)

Bernard, Andrew B. - 2010

We combine data on individual trade transactions from U.S. customs records with comprehensive information on firms' employment from the Census Bureau's business register to examine wholesalers and retailers in U.S. exports and imports. Exporters and importers with 100 percent employment in...

Persistent link: https://www.econbiz.de/10013148857