{"id":122676,"date":"2024-01-23T08:01:35","date_gmt":"2024-01-23T07:01:35","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/122676\/"},"modified":"2024-11-07T05:18:44","modified_gmt":"2024-11-07T04:18:44","slug":"information-and-price-dispersion-theory-and-evidence","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/122676\/","title":{"rendered":"Information and Price Dispersion. Theory and Evidence"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-122676","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"We examine the relationship between information and price dispersion in the retail gasoline market. We first show that the clearinghouse models in the spirit of Stahl (1989) generate an inverted-U relationship between information and price dispersion. We construct a new measure of information based on precise commuter data from Austria. Regular commuters can freely sample gasoline prices on their commuting route, providing us with spatial variation in the share of informed consumers. We use detailed information on gas station level price to construct various measures of price dispersion. Our empirical estimates of the relationship are in line with the theoretical predictions.","onlinedate":"2015-08-10 12:00:00","lang":"English","publication_series":"","publication_date":"20150801","publication_date_year":"","publication_date_full":false,"publication_num_pages":"63","keywords":"[]","jelcodes":"[]","related_publications":"[]","pdf":358979,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"502","journal":"WIFO Working Papers","publisher":"","invisible":false,"external":false,"embargo_date":"2015-08-10 12:00:00","types":[44410],"research_groups":[3481,3491],"collaboration":"","persons":[3781,4979,13985,13449,14019],"persons_data":"[{\"personId\":3781,\"personName\":\"Dieter Pennerstorfer\",\"organisationNames\":[]},{\"personId\":4979,\"personName\":\"Philipp Schmidt-Dengler\",\"organisationNames\":[]},{\"personId\":13985,\"personName\":\"Nicolas Schutz\",\"organisationNames\":[]},{\"personId\":13449,\"personName\":\"Christoph R. Weiss\",\"organisationNames\":[]},{\"personId\":14019,\"personName\":\"Biliana Yontcheva\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>Pennerstorfer, D.<\\\/span><span>, Schmidt-Dengler, P.<\\\/span>, Schutz, N., Weiss, C. R., &amp; Yontcheva, B. (2015). <span>Information and Price Dispersion. Theory and Evidence<\\\/span>. <span><em>WIFO Working Papers<\\\/em><\\\/span>, (502). <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/58341\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/58341<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Pennerstorfer D<\\\/span><span>, Schmidt-Dengler P<\\\/span>, Schutz N, Weiss CR, Yontcheva B. <span class=\\\"title\\\"><span>Information and Price Dispersion. Theory and Evidence<\\\/span><\\\/span>. <span>WIFO Working Papers<\\\/span>. 2015 Aug;(502).<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{948c2e6e3fea4822b58d9cf1df2d6595,<\\\/div><div>  title    = \\\"Information and Price Dispersion. Theory and Evidence\\\",<\\\/div><div>  abstract = \\\"We examine the relationship between information and price dispersion in the retail gasoline market. We first show that the clearinghouse models in the spirit of Stahl (1989) generate an inverted-U relationship between information and price dispersion. We construct a new measure of information based on precise commuter data from Austria. Regular commuters can freely sample gasoline prices on their commuting route, providing us with spatial variation in the share of informed consumers. We use detailed information on gas station level price to construct various measures of price dispersion. Our empirical estimates of the relationship are in line with the theoretical predictions.\\\",<\\\/div><div>  author   = \\\"Dieter Pennerstorfer and Philipp Schmidt-Dengler and Nicolas Schutz and Weiss, \\\\{Christoph R.\\\\} and Biliana Yontcheva\\\",<\\\/div><div>  note     = \\\"Information and Price Dispersion\\\",<\\\/div><div>  year     = \\\"2015\\\",<\\\/div><div>  month    = aug,<\\\/div><div>  language = \\\"English\\\",<\\\/div><div>  journal  = \\\"WIFO Working Papers\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - Information and Price Dispersion. Theory and Evidence<\\\/p><p>AU  - Pennerstorfer, Dieter<\\\/p><p>AU  - Schmidt-Dengler, Philipp<\\\/p><p>AU  - Schutz, Nicolas<\\\/p><p>AU  - Weiss, Christoph R.<\\\/p><p>AU  - Yontcheva, Biliana<\\\/p><p>N1  - Information and Price Dispersion<\\\/p><p>PY  - 2015\\\/8<\\\/p><p>Y1  - 2015\\\/8<\\\/p><p>N2  - We examine the relationship between information and price dispersion in the retail gasoline market. We first show that the clearinghouse models in the spirit of Stahl (1989) generate an inverted-U relationship between information and price dispersion. We construct a new measure of information based on precise commuter data from Austria. Regular commuters can freely sample gasoline prices on their commuting route, providing us with spatial variation in the share of informed consumers. We use detailed information on gas station level price to construct various measures of price dispersion. Our empirical estimates of the relationship are in line with the theoretical predictions.<\\\/p><p>AB  - We examine the relationship between information and price dispersion in the retail gasoline market. We first show that the clearinghouse models in the spirit of Stahl (1989) generate an inverted-U relationship between information and price dispersion. We construct a new measure of information based on precise commuter data from Austria. Regular commuters can freely sample gasoline prices on their commuting route, providing us with spatial variation in the share of informed consumers. We use detailed information on gas station level price to construct various measures of price dispersion. Our empirical estimates of the relationship are in line with the theoretical predictions.<\\\/p><p>M3  - WIFO series<\\\/p><p>JO  - WIFO Working Papers<\\\/p><p>JF  - WIFO Working Papers<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.3 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Information and Price Dispersion. 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