Gas Wars: Retail Gasoline Fluctuations
AbstractThis paper examines the retail gasoline price fluctuations known as "gas wars." Weekly prices for the Los Angeles area were examined for the period from January 2, 1968 through December 23, 1975. The observed fluctuations were remarkably regular and, apparently, large ly predictable. The data appear consistent with the recent game theory model of E. Maskin and J. Tirole in which competing firms produce Edgeworth cycles by undercutting each other and eventually relenting. Copyright 1993 by MIT Press.
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Bibliographic InfoArticle provided by MIT Press in its journal Review of Economics & Statistics.
Volume (Year): 75 (1993)
Issue (Month): 1 (February)
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- Anderson, Edward, 2011. "A new model for cycles in retail petrol prices," European Journal of Operational Research, Elsevier, vol. 210(2), pages 436-447, April.
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