Edgeworth cycles revisited
Some gasoline markets exhibit remarkable price cycles, where price spikes are followed by a series of small price declines: a pattern consistent with a model of Edgeworth cycles described by Maskin and Tirole. We extend the model and empirically test its predictions with a new dataset of daily stati...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Article |
| Language: | en_US |
| Published: |
Elsevier B.V.
2011
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| Online Access: | http://hdl.handle.net/1721.1/64740 https://orcid.org/0000-0002-4373-9302 |