The Speed of Gasoline Price Response in Markets with and without Edgeworth Cycles
研究发现，存在埃奇沃思价格周期的零售汽油市场，其成本变化传递速度比无周期市场快2到3倍，因为周期中的持续价格变动消除了价格摩擦。
Retail gasoline prices are known to respond fairly slowly to wholesale price changes. This does not appear to be true for markets with Edgeworth price cycles. Recently many retail gasoline markets in the midwestern United States and other countries have been shown to exhibit price cycles in which competition generates rapid cyclical retail price movements. We show that cost changes in cycling markets are passed on two to three times faster than in markets without cycles. We argue that the constant price movement inherent within the Edgeworth cycle eliminates price frictions and allows firms to pass on cost fluctuations more easily. © 2011 The President and Fellows of Harvard College and the Massachusetts Institute of Technology.