Studies of volatility in retail gasoline prices have used either weekly averages of the prices at a small subset of stations in a city or daily observations on prices at a small number of stations. This paper uses daily observations on station-specific prices within a large Canadian metropolitan area to address whether weekly average prices or prices for a small number of stations provide an accurate description of pricing in a market with volatility. This paper considers whether researchers using restricted data can draw meaningful conclusions about the appropriate theoretical model and the policy response to allegations of anticompetitive behavior.
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Volume (Year): 47 (2004) Issue (Month): 1 (April) Pages: 245-73 Download reference. The following formats are available: HTML
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Handle: RePEc:ucp:jlawec:y:2004:v:47:i:1:p:245-73
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