Heterogeneity of Edgeworth Cycle Period in Retail Gasoline Prices

DOI
  • Kawamata Yuji
    Graduate School of Systems and Information Engineering, University of Tsukuba
  • Akiyama Eizo
    Faculty of Engineering, Information and Systems, University of Tsukuba

Bibliographic Information

Other Title
  • ガソリン小売価格の推移に見られるエッジワース・サイクルの周期の異質性

Description

<p>Some retail gasoline markets exhibit Edgeworth cycles where a sharp price increase is followed by a series of gradual price decreases. We empirically analyzed retail gasoline prices in New South Wales (Australia) and showed what factors affect periods of Edgeworth cycles. First, we found that (A) an EC in an area tends to become longer as the number of stores per population in the area is larger. Next, to explain the generation mechanism of (A), we estimated stores’ behavior in pricing for each area. The estimation result showed that (B1) as the number of stores per population in an area is larger, stores in the area give more weight in pricing to “state average price” than “area average price” and (B2) as stores in an area give more weight in pricing to “state average price”, the EC in the area tends to become longer. Furthermore, we showed that (B1) and (B2) can explain (A)</p>

Journal

Related Projects

See more

Details 詳細情報について

  • CRID
    1390003825187494400
  • NII Article ID
    130007855543
  • DOI
    10.34438/arsc.2019.23_45
  • ISSN
    24354414
    1880960X
  • Text Lang
    ja
  • Data Source
    • JaLC
    • CiNii Articles
    • KAKEN
  • Abstract License Flag
    Disallowed

Report a problem

Back to top