Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/161673
Authors: 
Siekmann, Manuel
Year of Publication: 
2017
Series/Report no.: 
DICE Discussion Paper 252
Abstract: 
Edgeworth cycles represent the leading concept to explain observed pricing patterns on retail gasoline markets and have been subject to numerous empirical investigations on an interday level. In this paper, I present unique evidence of the presence, causes, and price effects of intraday Edgeworth-type cycles for an entire OECD country, using high-frequency price data from German gasoline stations. I find vast evidence of intraday cycles across municipalities in Germany. Cycle asymmetry and intensity is stronger in more concentrated markets and decreases with a higher share of non-major brands. My analysis suggests that intraday cycles are a sign of competition with a price decreasing effect during evening hours, where consumers conscious of their purchase timing can benefit most.
Subjects: 
Gasoline Markets
Fuel Prices
Edgeworth Cycles
Intraday Pricing
JEL: 
L11
L71
ISBN: 
978-3-86304-251-6
Document Type: 
Working Paper

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