Market transparency and consumer search—Evidence from the German retail gasoline market.
We estimate a model of incomplete information price competition where consumers endogenously choose whether to use a price search website. We examine how consumer search and prices would change under different transparency regimes. We find that aggregate consumer welfare is maximized when the price...
| Publicado en: | RAND Journal of Economics (Wiley-Blackwell) Vol. 55; no. 4; pp. 573 - 603 |
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| Formato: | Artículo |
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Wiley-Blackwell
Dec2024
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=181730989&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 181730989 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 07416261 56RJ jtl: RAND Journal of Economics (Wiley-Blackwell) issn: 07416261 maglogo: Y pubinfo: dt: Dec2024 vid: 55 iid: 4 pid: 480 pub: Wiley-Blackwell artinfo: ui: 181730989 10.1111/1756-2171.12485 ppf: 573 ppct: 30 formats: fmt: – @attributes: type: T – @attributes: type: C – @attributes: type: P size: 1.6MB tig: atl: Market transparency and consumer search—Evidence from the German retail gasoline market. aug: au: Martin, Simon affil: Department of Economics, University of Vienna su: Consumption (Economics) Retail industry Prices Consumers Gas prices sug: subj: Consumption (Economics) Retail industry Prices Consumers All Other Miscellaneous Store Retailers (except Tobacco Stores) All other miscellaneous general merchandise stores All other miscellaneous store retailers (except beer and wine-making supplies stores) Gas prices keyword: awareness consideration sets consumer search market transparency retail gasoline prices awareness consideration sets consumer search market transparency retail gasoline prices ab: We estimate a model of incomplete information price competition where consumers endogenously choose whether to use a price search website. We examine how consumer search and prices would change under different transparency regimes. We find that aggregate consumer welfare is maximized when the price search website lists the lowest 20% of prices (i.e., one station in markets with less than five stations, and two stations in markets with more than five stations), with consumer expenditures falling by 1.5% relative to a regime where all are listed. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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