ASYMMETRIC DYNAMIC PRICING IN A LOCAL GASOLINE RETAIL MARKET*
研究了智利圣地亚哥汽油零售市场中价格调整的非对称现象，发现品牌与非品牌加油站的非对称性不同，且高利润与低利润加油站的非对称性无显著差异，暗示合谋可能是原因。
Asymmetric‐price adjustment is a common phenomenon in many markets around the world, particularly in retail gasoline markets. This paper studies the existence of this phenomenon in the retail gasoline market in the city of Santiago, Chile, using a data set of weekly gas station prices that covers a period of almost four years. We found that prices adjust asymmetrically, and the asymmetry is different for branded gas stations and unbranded stations. In addition, we found that the asymmetry for high‐margin stations is statistically equivalent to that for low‐margin stations. This evidence is suggestive of collusion as a rationale for the asymmetric pricing policy observed.