More New Evidence on Asymmetric Gasoline Price Responses
研究确认了汽油价格非对称反应中存在的空间加总问题，通过分析单个加油站的日度零售价格，发现38%的加油站对现货市场价格变化存在非对称反应。
There exist two possible aggregation issues in studies to asymmetric price responses: (i) an issue due to aggregation over time, and (ii) an issue due to aggregation over space. Empirical studies already confirm the existence of the first issue. This paper confirms the existence of the second issue by studying daily retail prices of individual gasoline stations. I find that 38% of the stations respond asymmetrically to changes in the gasoline spot market price. Hence, asymmetric pricing is a feature of individual firms.