Search with learning: Understanding asymmetric price adjustments

RAND Journal of Economics

Volumn 39, Issue 2, 2008, Pages 547-564

  Yang, Huanxing ^a   Ye, Lixin ^a  

^a OHIO STATE UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 47649116507     PISSN: 07416261     EISSN: None     Source Type: Journal    
DOI: 10.1111/j.0741-6261.2008.00027.x     Document Type: Article

References (28)

1. BACON, R.W. "Rockets AND Feathers: The Asymmetric Speed of Adjustment of UK Retail Gasoline Prices to Cost Changes." Energy Economics, Vol. 13 (1991), pp. 211-218.
2. BENABOU, R. and GERTNER, R. "Search with Learning from Prices: Does Increased Inflationary Uncertainty Lead to Higher Markups?" Review of Economic Studies, Vol. 60 (1993), pp. 69-93.
3. BORENSTEIN, S., CAMERON, A.C., and GILBERT, R. "Do Gasoline Prices Respond Asymmetrically to Crude Oil Price Changes?" Quarterly Journal of Economics, Vol. 112 (1997), pp. 305-339.
4. BOYD, M.S. and BRORSEN, B.W. "Price Asymmetry in the U.S. Pork Marketing Channel." North Central Journal of Agricultural Economics, Vol. 10 (1988), pp. 103-110.
5. BRAVERMAN, A. "Consumer Search and Alternative Market Equilibria." Review of Economic Studies, Vol. 47 (1980), pp. 487-502.
6. BURDETT, K. and JUDD, K.L. "Equilibrium Price Dispersion." Econometrica, Vol. 51 (1983), pp. 955-970.
7. CABRAL, L. and FISHMAN, A. "A Theory of Asymmetric Price Adjustment." Department of Economics, Stem School of Business, New York University, 2006.
8. DANA, J.D. "Learning in an Equilibrium Search Model." International Economic Review, Vol. 35 (1994), pp. 745-771.
9. DELTAS, G. "Retail Gasoline Price Dynamics and Local Market Power." Department of Economics, University of Illinois, Urbana-Champaign, 2004.
10. DUFFY-DENO, K.T. "Retail Price Asymmetries in Local Gasoline Markets." Energy Economics, Vol. 18(1996), pp. 81-92.
11. ECKERT, A. "Retail Price Cycles and Response Asymmetry." Canadian Journal of Economics, Vol. 35 (2002), pp. 52-77.
12. FISHMAN, A. "Search with Learning and Price Adjustment Dynamics." Quarterly Journal of Economics, Vol. 111 (1996), pp. 253-268.
13. GOODWIN, B. and HARPER, D. "Price Transmission, Threshold Behavior, and Asymmetric Adjustment in the U.S. Pork Sector." Journal of Agricultural and Applied Economics, Vol. 32 (2000), pp. 543-553.
14. _, and HOLT, M.T. "Price Transmission and Asymmetric Adjustment in the U.S. Beef Sector." American Journal of Agricultural Economics, Vol. 81 (1999), pp. 630-637.
15. HANNAN, T.H. and BERGER, A.N. "The Rigidity of Prices: Evidence from the Banking Industry." American Economic Review, Vol. 84 (1991), pp. 938-945.
16. KARRENBROCK, J.D. "The Behavior of Retail Gasoline Prices: Symmetric or Not?" Federal Reserve Bank of St. Louis Review, July/August (1991), pp. 19-29.
17. LEWIS, M. "Asymmetric Price Adjustment and Consumer Search: An Examination of the Retail Gasoline Market." Department of Economics, The Ohio State University, 2005.
18. NEUMARK, D. and SHARPE, S.A. "Market Structure and the Nature of Price Rigidity: Evidence from the Market for Consumer Deposits." Quarterly Journal of Economics, Vol. 107 (1992), pp. 657-680.
19. O'BRIEN, J. "Estimating the Value and Interest Rate Risk of Interest-Bearing Transactions Deposits." Finance and Economics Discussion Paper no. 46, Board of Governors of the Federal Reserve System, 2000.
20. PELTZMAN, S. "Prices Rise Faster Than They Fall." Journal of Political Economy, Vol. 108 (2000), pp. 466-502.
21. PICK, D.H., KARRENBROCK, X. and CARMEN, H.F. "Price Asymmetry and Marketing Margin Behavior: An Example for California-Arizona Citrus." Agribusiness, Vol. 6 (1991), pp. 75-84.
22. ROB, R. "Equilibrium Price Distributions." Review of Economic Studies, Vol. 52 (1985), pp. 487-504.
23. ROTEMBERG, J. and SALONER, G. "A Supergame-Theoretical Model of Price Wars during Booms." American Economic Review, Vol. 76 (1986), pp. 390-407.
24. SALOP, S. and STIGLITZ, J. "Bargains and Ripoffs: A Model of Monopolistically Competitive Price Dispersion." Review of Economic Studies, Vol. 44 (1977), pp. 493-510.
25. STAHL, D.O. "Oligopolistic Pricing with Sequential Consumer Search." American Economic Review, Vol. 79 (1989), pp. 700-712.
26. TAPPATA, M. "Rockets and Feathers: Understanding Asymmetric Pricing." Strategy and Business Economics Division, Sauder School of Business, University of British Columbia. 2006.
27. VARIAN, H.R. "A Model of Sales." American Economic Review, Vol. 70 (1980), pp. 651-659.
28. WARD, R.W. "Asymmetry in Retail, Wholesale and Shipping Point Pricing for Fresh Vegetables." American Agricultural Economics Association, Vol. 14 (1982), pp. 205-212.