Chapter 16: Retail gasoline markets
In this chapter, a survey of the recent literature on retail gasoline markets is presented. Over a hundred papers explore static and dynamic pricing models and the determinants of gasoline price levels and price dispersion. Price phenomena like ‘rockets and feathers’ and Edgeworth price cycles have received particular attention. Retail gasoline prices and firm behavior in both an antitrust context, for example, merger and cartel studies, and in a regulatory context, for example, sales-below-cost and divorcement laws, among others, are also explored. A discussion of the recent transformation in the structure of gasoline retailing, and fruitful areas for future research, concludes the chapter.
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