PRICE DISPERSION AND COMPETITION WITH DIFFERENTIATED SELLERS*
测量了差异化零售汽油卖家间的价格离散程度，发现即使控制加油站特征差异后价格离散仍显著存在，且离散程度与当地竞争密度相关，但关系因卖家类型和竞争对手构成而异。
I measure price dispersion among differentiated retail gasoline sellers and study the relationship between dispersion and the local competitive environment. Significant price dispersion exists even after controlling for differences in station characteristics, and price differences between sellers change frequently. The extent of price dispersion is related to the density of local competition, but this relationship varies significantly depending on the type of seller and the composition of its competitors. These findings are consistent with interactions between seller and consumer heterogeneity that are not well understood in the existing price dispersion literature.