Download or read book Price Competition and Market Segmentation in Retail Gasoline written by Taehwan Kim and published by . This book was released on 2017 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: I examine price dispersion in retail gasoline and focus on differentiation along the service dimension: full service versus self service. Consistent with more intensive search by self-service customers, I find that price dispersion always decreases with the number of nearby self-service stations, but does not decrease with the number of nearby full-service stations. When I segment the market by brand, I observe that the estimates are sensitive to how brands are separated into different types. These findings show that the market is more clearly segmented by service level than by brand type and also highlight the importance of product differentiation when modeling price dispersion.
Download or read book The Nature of Competition in Gasoline Distribution at the Retail Level written by Ralph Cassady Jr. and published by Univ of California Press. This book was released on 2023-11-10 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1951.
Download or read book The Nature of Competition in Gasoline Distribution at the Retail Level written by Ralph Cassady (Jr.) and published by Univ of California Press. This book was released on 1951 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The State of Competition in Gasoline Marketing written by James B. Delaney and published by . This book was released on 1980 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Information Competition and Pricing Dynamics in the Retail Gasoline Market written by Woo-Hyung Hong and published by . This book was released on 2015 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation studies the role of information in market performance, and pricing dynamics observed in the retail gasoline market. In Chapter 1, we empirically test whether smartphones, as information-providing devices, can improve market performance and reduce price dispersion. We treat the introduction of smartphones in the Korean gasoline market as a natural experiment to investigate the impact of smartphones on competition among gas stations. Smartphones provided consumers with direct access to price information through OPINET, a government-sponsored Internet website. Our results indicate that the adoption of smartphones is associated with dramatic decreases in price dispersion and average price-cost margins, thereby creating consumer gains. Additionally, we found a sudden decline in entries and a slow increase in exits after the introduction of smartphones. Chapter 2 investigates how and why a link between market power and asymmetric pricing occurs. Exploiting unique island panel data from the Korean gasoline market, we propose geographical separation as a reliable measure of market power. Our findings confirm a positive correlation between market power and price-response asymmetry. We provide direct evidence of tacit collusion by investigating sticky pricing behaviors and suggest that the tacit collusion is the main channel through which market power influences asymmetric pricing. Additionally, we examine the effect of station heterogeneity on asymmetric pricing to provide further evidence of tacit collusion even in relatively competitive environments.
Download or read book Gasoline Retail Marketing Practices Washington D C Sept 27 Oct 11 and 18 1979 written by United States. Congress. House. Committee on Small Business. Subcommittee on Antitrust and Restraint of Trade Activities Affecting Small Business and published by . This book was released on 1979 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays on Retail Price Competition written by Taehwan Kim (Ph.D. in Economics) and published by . This book was released on 2018 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three chapters. The first chapter examines price dispersion in retail gasoline and focuses on differentiation along the service dimension: full service versus self service. Consistent with more intensive search by self-service customers, I find that price dispersion always decreases with the number of nearby self-service stations, but does not decrease with the number of nearby full-service stations. When I segment the market by brand, I observe that the estimates are sensitive to how brands are separated into different types. These findings show that the market is more clearly segmented by service level than by brand type and also highlight the importance of product differentiation when modeling price dispersion. In the second chapter, I examine product positioning and pricing strategies of sellers in a market undergoing a significant restructuring using data from the introduction of self-service technology in the Korean gasoline market in the 2000s. I show that the decision of full-service sellers to exit or switch to self service is positively correlated with the intensity of competition they face. The pricing strategies of sellers differ by product position: self-service sellers compete for price-sensitive consumers, whereas full-service sellers differentiate their product by offering a variety of bundled products and services, such as coffee, carwash or even a nail salon, to compete for less-price-sensitive consumers. Taken together, these patterns have led to an increase in the full-service premium during the market transition. In the third chapter, I study the effect of a government contract on price. Since 2013, Korean government officials have been required to refuel at contracted gasoline stations, at about 5% discounts relative to the posted price. The initial contract terminated in November 2015 and a new group of sellers took over the contract. In this paper, I use this natural experiment to examine the impact of the government contract on gasoline prices, using a difference-in-difference analysis and price data on all gasoline stations in Seoul. I find that, all else equal, posted prices of contracted gasoline stations are about 2% higher than those of non-contracted stations. This finding is consistent with the prediction of models of price discrimination that prices decrease when the elasticity of demand falls. The effect on prices is not uniform across all stations, however. The contract leads to larger increases in full-service stations' posted prices than in self-service stations' prices, and larger increases at stations with fewer nearby competitors. The contract also decreases prices of non-contracted stations very close to contracted stations.
Download or read book Anticompetitive Practices in the Retail Gasoline Market written by United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust, Monopolies, and Business Rights and published by . This book was released on 1992 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Competition Ltd written by Fred C. Allvine and published by Bloomington : Indiana University Press. This book was released on 1972 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Gasoline Retail Marketing Practices written by United States. Congress. House. Committee on Small Business. Subcommittee on Antitrust and Restraint of Trade Activities Affecting Small Business and published by . This book was released on 1980 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Price Fluctuations and Competition in the Retail Gasoline Market written by Mark B. Schupack and published by . This book was released on 1982 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Competition and Pricing Strategies written by Marc Remer and published by . This book was released on 2019 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: I analyze the extent to which competitors adopt similar pricing strategies. Using an extensive panel data set, I find substantial heterogeneity in the price setting behavior of nearby competitors. The differences in strategy can be explained, in part, by the size of firms and relative profitability of gasoline within a firm's overall product offerings. More generally, I investigate the degree to which retail gasoline stations change over time (i) price-cost margins, (ii) regular fuel prices, and (iii) the price-gap between different grades of fuel. I pinpoint specific firm and market characteristics that explain the substantial variation in each measure, both within and across local markets. Competition increases price and margin variation. Conversely, independent and smaller firms react less frequently to changes in cost and other economic shocks. Also, premium and mid-grade fuel, relatively low demand products, are more likely than regular fuel to be priced using a rule-of-thumb. These results, and others, demonstrate a positive relationship between the relative profitability of a product and the incentive to invest in sophisticated pricing policies.
Download or read book Retail Gas Prices written by United States and published by . This book was released on 2008 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Product Differentiation Competition and Prices in the Retail Gasoline Industry written by Mark David Manuszak and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis presents a series of studies of the retail gasoline industry using data from Hawaii. This first chapter examines a number of pricing patterns in the data and finds evidence that gasoline stations set prices which are consistent with a number of forms of price discrimination. The second chapter analyzes various patterns of cross-sectional, cross-market and intertemporal variation in the data to investigate their suitability for use in structural econometric estimation. The remainder of the dissertation consists of specification and estimation of a structural model of supply and demand for retail gasoline products sold at individual gasoline stations. This detailed micro-level analysis permits examination of a number of important issues in the industry, most notably the importance of spatial differentiation in the industry. The third chapter estimates the model and computes new equilibria under a number of asymmetric taxation regimes in order to examine the impact of such tax policies on producer and consumer welfare as well as tax revenue. The fourth chapter examines whether there is any evidence of tacitly collusive behavior in the Hawaiian retail gasoline industry and concludes that, in fact, conduct is fairly competitive in this industry and market.
Download or read book Perfect Competition Spatial Competition and Tax Incidence in the Retail Gasoline Market written by James Alm and published by . This book was released on 2006 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we use monthly gasoline price data for all fifty U.S. states over the period 1984 to 1999 to examine the incidence of state gasoline excise taxes. Standard economic theory predicts full shifting of the excise tax to consumers when the supply of gasoline is perfectly elastic, and our empirical results are largely consistent with this prediction. In general, we find full shifting of gasoline taxes to the final consumer, with changes in gasoline taxes fully reflected in the tax-inclusive gasoline price almost instantly, a result consistent with a retail gasoline market in which firms are perfectly competitive and produce at constant cost. In addition, although we find that gasoline retail prices demonstrate asymmetric responses to changes in gasoline wholesale prices, we find only limited evidence of such behavior for retail prices with respect to gasoline excise taxes. Importantly, we also present a novel application of a spatial price discrimination model to examine tax incidence in markets that are not perfectly competitive. In this alternative framework, the incidence of excise taxes depends upon the competitiveness of retail gasoline markets, which depends in turn on spatial aspects of the market. Consistent with this alternative theoretical framework, our empirical estimates demonstrate that gasoline markets in urban states exhibit full shifting, but those in rural states demonstrate somewhat less than full shifting.
Download or read book Gasoline price changes the dynamic of supply demand and competition written by and published by DIANE Publishing. This book was released on 2005 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Retail gas prices written by United States. Congress. House. Committee on the Judiciary. Task Force on Competition Policy and Antitrust Laws and published by . This book was released on 2009 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt:
