Replication data for: Learning to Coordinate: A Study in Retail Gasoline
Principal Investigator(s): View help for Principal Investigator(s) David P. Byrne; Nicolas de Roos
Version: View help for Version V1
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Project Citation:
Byrne, David P., and de Roos, Nicolas. Replication data for: Learning to Coordinate: A Study in Retail Gasoline. Nashville, TN: American Economic Association [publisher], 2019. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113176V1
Project Description
Summary:
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This paper studies equilibrium selection in the retail gasoline industry. We exploit a unique dataset that contains the universe of station-level prices for an urban market for 15 years, and that encompasses a coordinated equilibrium transition mid-sample. We uncover a gradual, three-year equilibrium transition, whereby dominant firms use price leadership and price experiments to create focal points that coordinate market prices, soften price competition, and enhance retail margins. Our results inform the theory of collusion, with particular relevance to the initiation of collusion and equilibrium selection. We also highlight new insights into merger policy and collusion detection strategies.
Scope of Project
JEL Classification:
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G34 Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance
L12 Monopoly; Monopolization Strategies
L13 Oligopoly and Other Imperfect Markets
L71 Mining, Extraction, and Refining: Hydrocarbon Fuels
L81 Retail and Wholesale Trade; e-Commerce
Q35 Hydrocarbon Resources
G34 Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance
L12 Monopoly; Monopolization Strategies
L13 Oligopoly and Other Imperfect Markets
L71 Mining, Extraction, and Refining: Hydrocarbon Fuels
L81 Retail and Wholesale Trade; e-Commerce
Q35 Hydrocarbon Resources
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