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Why shops close again : an evolutionary perspective on the deregulation of shopping hours

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Author Info
Kosfeld, M. (Tilburg University, Faculty of Economics and Business Administration)

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Abstract

This paper introduces a new perspective on the deregulation of shopping hours based on ideas from evolutionary game theory. We study a retail economy where shopping hours have been deregulated recently. It is argued that first, the deregulation leads to a coordination problem between store owners and customer, and second, the `solution' to this problem depends on the specific cost structure of stores and the preferences of customers. In particular, it may happen that, even if it is profitable for both to keep stores open at night, they do not succeed in coordinating on this equilibrium. The analysis explains the observation in Germany, where shopping hours have been deregulated recently, that store owners tend to go back to the former shopping hours again. Moreover, it emphasizes the important role of advertisement campaigns as a signalling device.

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Publisher Info
Paper provided by Tilburg University, Faculty of Economics and Business Administration in its series Research Memorandum with number 776.

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Date of creation: 1999
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Handle: RePEc:dgr:kubrem:1999776

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Web page: http://cwis.uvt.nl/~few/few2/

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Related research
Keywords: coordination; hours of trading;

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Find related papers by JEL classification:
L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
C62 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Existence and Stability Conditions of Equilibrium

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References listed on IDEAS
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  1. Morrison, Steven A & Newman, Robert J, 1983. "Hours of Operation Restrictions and Competition among Retail Firms," Economic Inquiry, Oxford University Press, vol. 21(1), pages 107-14, January.
  2. Kosfeld, M., 1999. "Stochastic strategy adjustment in coordination games," Research Memorandum 775, Tilburg University, Faculty of Economics and Business Administration. [Downloadable!]
  3. John C. Harsanyi & Reinhard Selten, 1988. "A General Theory of Equilibrium Selection in Games," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262582384.
  4. Ellison, Glenn, 1993. "Learning, Local Interaction, and Coordination," Econometrica, Econometric Society, vol. 61(5), pages 1047-71, September. [Downloadable!] (restricted)
  5. Blume Lawrence E., 1993. "The Statistical Mechanics of Strategic Interaction," Games and Economic Behavior, Elsevier, vol. 5(3), pages 387-424, July. [Downloadable!] (restricted)
  6. Gordon Tullock, 1975. "The Transitional Gains Trap," Bell Journal of Economics, The RAND Corporation, vol. 6(2), pages 671-678, Autumn. [Downloadable!] (restricted)
  7. Nooteboom, Bart, 1982. "A new theory of retailing costs," European Economic Review, Elsevier, vol. 17(2), pages 163-186. [Downloadable!] (restricted)
  8. Akihiko Matsui, 1989. "Cheap Talk and Cooperation in the Society," Discussion Papers 848, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
  9. Ferris, J Stephen, 1990. "Time, Space, and Shopping: The Regulation of Shopping Hours," Journal of Law, Economics and Organization, Oxford University Press, vol. 6(1), pages 171-87, Spring.
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  10. Clemenz, Gerhard, 1990. "Non-sequential consumer search and the consequences of a deregulation of trading hours," European Economic Review, Elsevier, vol. 34(7), pages 1323-1337, November. [Downloadable!] (restricted)
  11. Tanguay, Georges & Vallee, Luc & Lanoie, Paul, 1995. "Shopping Hours and Price Levels in the Retailing Industry: A Theoretical and Empirical Analysis," Economic Inquiry, Oxford University Press, vol. 33(3), pages 516-24, July.
  12. Thum, Marcel & Weichenrieder, Alfons, 1997. "'Dinkies' and Housewives: The Regulation of Shopping Hours," Kyklos, Blackwell Publishing, vol. 50(4), pages 539-59.
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