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| Tekijä: | Lewis, M.S. Marvel, H.P. |
| Otsikko: | When do consumers search? |
| Lehti: | Journal of Industrial Economics
2011 : SEP, VOL 59:3, p.457-483 |
| Asiasana: | asymmetric information internet fuel prices gas industry consumers |
| Kieli: | eng |
| Tiivistelmä: | This study provides empirical evidence relating search to price movements. We measure consumer search directly from traffic statistics for web sites reporting gasoline prices. We show empirically that consumers' searches increase as prices rise compared to when prices fall. Asymmetric search patterns influence price behaviour. The findings imply that retail margins are squeezed by increased search. In addition, it is shown that there is more price dispersion during price fall than when prices are either steady or rising. Our results provide an explanation based on search for the 'rockets and feathers' phenomenon of asymmetric price adjustment. |
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