Most of the literature on retail fuel markets find high-frequency and asymmetric price cycles. This is typically … explained by the model of Edgeworth price cycles. A key element of this model is that prices fall to marginal costs during a …

students judge price increases as fair. Moreover, this tendency strengthens as economics students advance in their studies. In … economics) at the University of the German Federal Armed Forces. We find that significantly more economics than noneconomics … addition, fewer advanced economics students judge allocation through the local community as fair when compared to first …

Economists praise the efficiency of the price mechanism in allocating scarce resources. Others, however, often reject … value the fairness of the price system, and examine how deeply such differences are rooted in their course of studies. The … result: studying economics does in fact influence how they arrive at value judgements, though students' attitudes do not stem …