{"id":122866,"date":"2024-01-23T08:07:26","date_gmt":"2024-01-23T07:07:26","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/122866\/"},"modified":"2024-11-07T05:20:51","modified_gmt":"2024-11-07T04:20:51","slug":"network-centrality-and-market-prices-an-empirical-note","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/122866\/","title":{"rendered":"Network Centrality and Market Prices. An Empirical Note"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-122866","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"We empirically investigate the importance of centrality (holding a central position in a spatial network) for strategic interaction in pricing for the Austrian retail gasoline market. Results from spatial autoregressive models suggest that the gasoline station located most closely to the market center \u2013 defined as the 1-median location \u2013 exerts the strongest effect on pricing decisions of other stations. We conclude that centrality influences firms' pricing behaviour and further find that the importance of centrality increases with market size.","onlinedate":"2015-09-28 12:00:00","lang":"English","publication_series":"","publication_date":"20150901","publication_date_year":"","publication_date_full":false,"publication_num_pages":"18","keywords":"[\"Gasoline Prices\",\"Network Centrality\",\"Retail Markets\",\"Spatial Competition\"]","jelcodes":"[]","related_publications":"[]","pdf":359741,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"503","journal":"WIFO Working Papers","publisher":"","invisible":false,"external":false,"embargo_date":"2015-09-28 12:00:00","types":[44410],"research_groups":[3481],"collaboration":"","persons":[3724,3781,13449],"persons_data":"[{\"personId\":3724,\"personName\":\"Matthias Firgo\",\"organisationNames\":[]},{\"personId\":3781,\"personName\":\"Dieter Pennerstorfer\",\"organisationNames\":[]},{\"personId\":13449,\"personName\":\"Christoph R. Weiss\",\"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>Firgo, M.<\\\/span><span>, Pennerstorfer, D.<\\\/span>, &amp; Weiss, C. R. (2015). <span>Network Centrality and Market Prices. An Empirical Note<\\\/span>. <span><em>WIFO Working Papers<\\\/em><\\\/span>, (503). <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/58403\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/58403<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Firgo M<\\\/span><span>, Pennerstorfer D<\\\/span>, Weiss CR. <span class=\\\"title\\\"><span>Network Centrality and Market Prices. An Empirical Note<\\\/span><\\\/span>. <span>WIFO Working Papers<\\\/span>. 2015 Sept;(503).<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{127026be554b46408ed31a58368c3763,<\\\/div><div>  title    = \\\"Network Centrality and Market Prices. An Empirical Note\\\",<\\\/div><div>  abstract = \\\"We empirically investigate the importance of centrality (holding a central position in a spatial network) for strategic interaction in pricing for the Austrian retail gasoline market. Results from spatial autoregressive models suggest that the gasoline station located most closely to the market center \u2013 defined as the 1-median location \u2013 exerts the strongest effect on pricing decisions of other stations. We conclude that centrality influences firms' pricing behaviour and further find that the importance of centrality increases with market size.\\\",<\\\/div><div>  keywords = \\\"Gasoline Prices, Network Centrality, Retail Markets, Spatial Competition, Gasoline Prices, Network Centrality, Retail Markets, Spatial Competition\\\",<\\\/div><div>  author   = \\\"Matthias Firgo and Dieter Pennerstorfer and Weiss, \\\\{Christoph R.\\\\}\\\",<\\\/div><div>  note     = \\\"Network Centrality and Market Prices\\\",<\\\/div><div>  year     = \\\"2015\\\",<\\\/div><div>  month    = sep,<\\\/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  - Network Centrality and Market Prices. An Empirical Note<\\\/p><p>AU  - Firgo, Matthias<\\\/p><p>AU  - Pennerstorfer, Dieter<\\\/p><p>AU  - Weiss, Christoph R.<\\\/p><p>N1  - Network Centrality and Market Prices<\\\/p><p>PY  - 2015\\\/9<\\\/p><p>Y1  - 2015\\\/9<\\\/p><p>N2  - We empirically investigate the importance of centrality (holding a central position in a spatial network) for strategic interaction in pricing for the Austrian retail gasoline market. Results from spatial autoregressive models suggest that the gasoline station located most closely to the market center \u2013 defined as the 1-median location \u2013 exerts the strongest effect on pricing decisions of other stations. We conclude that centrality influences firms' pricing behaviour and further find that the importance of centrality increases with market size.<\\\/p><p>AB  - We empirically investigate the importance of centrality (holding a central position in a spatial network) for strategic interaction in pricing for the Austrian retail gasoline market. Results from spatial autoregressive models suggest that the gasoline station located most closely to the market center \u2013 defined as the 1-median location \u2013 exerts the strongest effect on pricing decisions of other stations. 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