In many retail gasoline markets, prices follow a saw-toothed cycle first posited by Edgeworth (1925) and formalised by Maskin & Tirole (1988). A growing literature explores driving factors behind such cycles, most particularly in Canada and the US. This paper explores price cycles in a retail...

Gasoline prices in many markets follow a saw-toothed pattern known as an Edgeworth Cycle. Lewis (2009) introduces a novel way of measuring the shape of the cycle, the median change in price, and regresses this against a number of explanatory variables in US markets. Here, we undertake a similar...

Maskin & Tirole (1998) formalise Edgeworth’s (1925) model of a dynamic equilibrium between two players where prices increase sharply and decrease slowly; the Edgeworth Cycle. Here, we present an application of the model, showing how Edgeworth Cycles might arise in a marketplace where spatial...

Movements in the prices of primary products and manufactured goods are analysed using a model that introduces differences in wage and price determination between primary production and manufacturing. Wages and prices in primary production are treated as competitively determined, while prices and...

Over a period of some fifty years from the early 1940s until his death in 1993, Josef Steindl developed and expounded a theory of industry concentration. His analysis deals explicitly with differences in costs and demand among firms producing similar products. These differences lead to...

In their efforts to create a position in a market, and to maintain that position, firms make positioning investments of various sorts, in R&D, plant, advertising, and location, or more generally, in product development and maintenance. The heart of this paper is the hypothesis that the success...

Josef Steindl offers an innovative dynamic analysis of competition in Maturity and Stagnation in American Capitalism, with a key role for technical change. However, in his later writings he suggests that he had not gone far enough and that his account was not sufficiently dynamic, noting...