Vertical Control and Price Cycles in Gasoline Retailing
利用挪威2003-2006年日度加油站数据,研究发现四大汽油公司采用行业统一的垂直约束(价格支持),将定价权从独立零售商转移至总部,导致每周一中午总部在不知对手价格的情况下同时提价至相同水平,形成固定周价格模式。
Abstract We examine Norwegian gasoline pump prices using daily station‐specific observations from 2003 to 2006. The four big gasoline companies use a vertical restraint that is adopted industry‐wide (labeled price support). This moves price control from the hands of independent retailers into the hands of the headquarters. Retail gasoline prices follow a fixed weekly pattern, where we observe de facto simultaneous decision‐making by the headquarters (without knowledge of their rivals’ prices) when every Monday around noon they decide to increase pump prices to the same level. The price level on Mondays corresponds to the recommended prices published by the headquarters of the gasoline companies.