The Economics of Information and Retail Gasoline Price Behavior
An Empirical Analysis
Bibliographic Data
| ID | 10182080 |
|---|---|
| Authors | Howard P Marvel (corresponding author) |
| Year | 1976 |
| Volume | 84 |
| Issue | 5 |
| Pages | 1033-1060 |
| Publication date | 1976-10-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/260495 |
| OpenAlex | W1991162962 |
| Language | EN |
| Citations received | 16 |
| References cited | 1 |
This paper provides empirical results which indicate that consumer responses to imperfect, costly information have an important impact on price behavior in the retail gasoline market. Two aspects of price behavior are investigated: the market price dispersion at a point in time and the variability of price over time. Through use of a multiple-regression cross-city analysis of price behavior, both of these characteristics are shown to depend on a set of proxy variables representing the benefits and costs to consumers of acquiring information. In addition, prices vary more within a given city at stations catering to relatively well informed customers
Business · Consumer behaviour · Econometrics · Economics · Empirical research · Market price · Microeconomics · Mid price · Monetary economics · Perfect information · Point (geometry · Price dispersion · Price level · Proxy (statistics · Regression analysis · Consumer Market Behavior and Pricing · Energy, Environment, and Transportation Policies · Marketing · Merger and Competition Analysis
Search intensity, search time and prices
Competition and Demographics in Large Indian Cities
Price Search in a Product Market
Competition and Price Levels in the Retail Gasoline Market
Determinants of Price Dependency
Price Dispersion and Inflation
Let the Ignorant Consumer Beware
A Review and Comparative Analysis of Retail Grocery Price Variations
Relationship between spatial agglomeration and hotel prices. Evidence from business and tourism consumers
Rationality is anti-entropic
Economics of information and heterogeneous products
A Pecuniary Reason for Income Mixing
Improved information shock and price dispersion
Beyond the jab
Variations in the Retail Price of Chemists' Goods
Homo Economicus and Homo Politicus
| Unique citing works | 16 |
|---|---|
| Citations per year | 0,33 |
| Citation span | 1978 - 2025 (48) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 16 |