. However, it is not clear whether these costs soften or exacerbate price competition. Using a large database of gas stations …' prices in the Italian market, we study fuel prices in early and late periods of loyalty programs: the sharp price changes … conclusive, as our data cannot exclude other factors explaining the price reduction. We discuss implications for managers and …

we find that there exists a robust positive relationship between the price paid and the number of store visited. We argue …