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Consumer myopia in vehicle purchases: evidence from a natural experiment
Gillingham, Kenneth; Houde, Sébastien; van Benthem, … - 2019
A central question in the analysis of fuel-economy policy is whether consumers are myopic with regards to future fuel costs. We provide the first evidence on consumer valuation of fuel economy from a natural experiment. We examine the short-run equilibrium effects of an exogenous restatement of...
Persistent link: https://www.econbiz.de/10012052762
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Consumer myopia in vehicle purchases: Evidence from a natural experiment
Gillingham, Kenneth; Houde, Sébastien - 2019
A central question in the analysis of fuel-economy policy is whether consumers are myopic with regards to future fuel costs. We provide the first evidence on consumer valuation of fuel economy from a natural experiment. We examine the short-run equilibrium effects of an exogenous restatement of...
Persistent link: https://www.econbiz.de/10012140953
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Fuel Prices and Station Heterogeneity on Retail Gasoline Markets
Siekmann, Manuel; Haucap, Justus; Heimeshoff, Ulrich - 2015
Price levels and movements on gasoline and diesel markets are heavily debated among consumers, policy-makers, and … competition authorities alike. In this paper, we empirically investigate how and why price levels differ across gasoline stations … stations. Our analysis specifically explores the role of station heterogeneity in explaining price differences across gasoline …
Persistent link: https://www.econbiz.de/10011301636
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OPEC, Saudi Arabia, and the shale revolution: Insights from equilibrium modelling and oil politics
Ansari, Dawud - In: Energy Policy 111 (2017), pp. 166-178
Why did OPEC not cut oil production in the wake of 2014's price fall? This study aims at aiding the mostly qualitative discussion with quantitative evidence from computing quarterly partial market equilibria Q4 2011 – Q4 2015 under present short-term profit maximisation and different...
Persistent link: https://www.econbiz.de/10012102479
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Strategic Behaviour in International Metallurgical Coal Markets
Trüby, Johannes - 2012
This paper analyses whether prices and trade-flows in the international market for metallurgical coals were subject to non-competitive conduct in the period 2008 to 2010. To do so, I develop mathematical programming models – a Stackelberg model, two varieties of a Cournot model, and a perfect...
Persistent link: https://www.econbiz.de/10010312765
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Price Competition in Product Variety Networks
Ushchev, Philip; Zenou, Yves - 2016
We develop a product-differentiated model where the product space is a network defined as a set of varieties (nodes) linked by their degrees of substitutability (edges). We also locate consumers into this network, so that the location of each consumer (node) corresponds to her “ideal”...
Persistent link: https://www.econbiz.de/10011586851
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How to draw the line: A note on local market definition
Pennerstorfer, Dieter; Yontcheva, Biliana - 2019
This article presents a novel method of market delineation, which generates virtually isolated residential clusters using data on the spatial distribution of population. The performance of this approach is evaluated by contrasting it with traditional delineation techniques based on municipal...
Persistent link: https://www.econbiz.de/10012662679
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Number of firms, rationing, matching, and knowledge: A comprehensive study of variations in experimental Kreps-Scheinkman markets
Jacobs, Martin - 2016
This study provides a comprehensive picture of experimental Kreps-Scheinkman markets with capacity choice in the first stage and subsequent price competition at the second. We conduct seven different treatments of such markets, varying the number of firms, the demand rationing scheme, the...
Persistent link: https://www.econbiz.de/10011412815
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Capacity Choice under Uncertainty with Product Differentiation
Behrens, Christiaan; Lijesen, Mark - 2012
This article analyses the capacity-then-price game for a duopoly market. We add to the literature by explicitly taking product differentiation into account. We study the impact of capacity costs, demand uncertainty, and vertical and horizontal product differentiation on equilibrium capacities,...
Persistent link: https://www.econbiz.de/10010326472
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Price competition on network
Lever Guzmán, Carlos - 2011
We present a model of imperfect price competition where not all firms can sell to all consumers. A network structure models the local interaction of firms and consumers. We find that aggregate surplus is maximized with a fully connected network, which corresponds to perfect competition, and...
Persistent link: https://www.econbiz.de/10010322561