Service Time Competition
构建并检验了服务时间竞争模型:加油站通过定价影响排队长度,顾客平均愿为减少6%拥堵多付约1%价格,且竞争越直接价格越分散。
How can two physically identical gasoline stations differentiate themselves? In this article we develop and test a model of service time competition: some stations set higher prices and thereby offer shorter queues, whereas others offer lower price and longer queues. We find that retail demand is sensitive to service time: customers are, on average, willing to pay about 1% more for a 6% reduction in congestion. Consistent with the service time hypothesis, prices are more dispersed at stations facing more direct competition.