@techreport{Baier2005Cyclical,
abstract = {The 2002 prices of suppliers in German call-by-call telephone market are rather dispersed, out-of-phase (uncorrelated), and show systematic down-up movements. In 2004, these prices are less dispersed, more in-phase and show more upwards runs than downs-ups. In both years, we clearly do not observe Edgeworth cycles where prices move in parallel (in-phase). We present a model with demand inertia, caused by incomplete information about prices, where (out-of-phase and in-phase) cycles as well as competitive equilibria and tacit collusion equilibria exist. The transition from the 2002 cycles in the German call-by-call market to more constant prices in 2004 may be due to parameter changes, such as customers possessing improved information.},
author = {Antje Baier and Friedel Bolle},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {D43; C73; 330; Price cycles; incomplete information; telephone market; Telekommunikationsgeb\"{u}hr; Volatilit\"{a}t; Cobweb; Unvollkommene Information; Konsumentenverhalten; Informationsverhalten; Theorie; Deutschland},
language = {eng},
number = {225},
title = {Cyclical price fluctuations caused by information inertia : evidence from the German call-by-call telephone market},
type = {Diskussionspapiere / Europa-Universit\"{a}t Viadrina Frankfurt (Oder), Wirtschaftswissenschaftliche Fakult\"{a}t},
url = {http://hdl.handle.net/10419/23798},
year = {2005}
}
