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 behavior of 9 Philadelphia gasoline wholesalers. We nevertheless reject the …

responses to rivals' price advertising and find that small, non-advertising stores raise their prices of products advertised by … rivals beyond their baseline price increase, while larger, advertising stores raise by less their prices of rival …-advertised products. We find no reductions in price dispersion across stores with the introduction of price advertising. However, those …

that only 16% of the variation in prices is common across stores selling an identical product. 65% of the price variation … completely idiosyncratic price variation. My results suggest that most of the observed price variation arises from retail …

We simulate competitive benchmark wholesale prices for electricity in California during the summer of 2000, taking … changes in wholesale electricity prices in California during Summer 2000 can be explained by these four factors. The impact of …

to 2005, we examine the effects of gasoline prices on the automotive fleet's composition. We find that high gasoline … estimates suggest that a 10% increase in gasoline prices from 2005 levels will generate a 0.22% increase in fleet fuel economy …

different fuel economies change in response to shocks to the price of gasoline, we estimate the relationship between vehicle …' willingness to pay for fuel economy using a novel identification strategy and high quality microdata from wholesale used car …, and therefore different remaining lifetimes. By seeing how price differences across high and low mileage vehicles of …

Did the 1973 and 1979 gasoline price rises change consumer views about the relative quality of different cars? This … effect of gasoline price increases but also for the effects of changes in other prices and income, we develop two alternative … fraction of the coefficient change that did occur during this period can be attributed to the gasoline price increase alone …

subsequent reinstatement, of the 5% gasoline sales tax in Illinois and Indiana following a temporary price spike in the spring of …

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 …