Price Stickiness in the US and Europe Revisited: Evidence from Internet Prices*
比较了法国、德国、意大利、英国和美国互联网与传统实体店的价格粘性，发现美国互联网价格调整频率低于欧洲国家，且互联网价格并不比实体店更灵活。
This paper compares price stickiness on the Internet and in traditional brick-and-mortar stores and examines differences across five countries: France, Germany, Italy, the UK and the US. Contrary to conventional retail prices, we find that Internet prices change less often in the US than in EU countries. However, this does not hold for all product categories. Second, prices on the Internet are not necessarily more flexible than prices in brick-and-mortar stores. Third, our dataset reveals substantial heterogeneity in the frequency of price changes across Internet shops. Finally, panel logit estimates suggest that the likelihood of observing a price change is a function of both state-dependent and time-dependent factors.