finds that the majority of the mergers led to higher wholesale gasoline prices in the United States in the mid-1990s through …

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 …

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 …

Weekly retail gasoline prices in Windsor, Ontario, from 1989 to 1994 appear to respond faster to wholesale price … increases than to decreases, but exhibit a cyclic pattern inconsistent with a common explanation of response asymmetry. I … reconcile these observations through a model of price cycles. Prices on the downward portion of the cycle appear insensitive to …