Matched product data is collected from the leading online grocers in U.S. The same exact products are identified scanner data. paper documents pricing strategies within and across (and offline) retailers. First, retailers exhibit substantially less uniform than offline Second, price differentiation competing chains narrow geographies higher Third, variation elasticities, shipping distance, freq...

The price dispersion means different prices for same goods. In the Internet economy, many economists reckon that the price dispersion in the e-commerce markets should descend along with the dropping of search cost. However, the correlative empirical studies reach a contrary opinion: there not only exist price dispersion in the e-commerce market, but also has larger dispersion degree than the tr...

Quality-Adjusted Life Years (QALYs) are the most widely-used measure of health in cost– effectiveness analysis and cost–benefit analysis. Within a welfarist framework QALYs are consistent with people’s preferences under stringent assumptions. Several authors have argued that QALYs are a valid measure of health within an extra-welfarist framework. This paper studies the applicability of QALYs wi...

Tradable permits are celebrated as a political instrument since they allow (i) firms to equalize marginal abatement costs through trade and (ii) the government to distribute the burden of the policy in a politically fair and feasible way. These two concerns, however, conflict in a dynamic setting. Anticipating that high-cost firms will receive more permits in the future, firms purchase excessiv...

This paper attempts to reconcile an apparent contradiction between short-run and long-run movements in the price of gold. A theoretical model is developed that suggests a set of the conditions that would have to be satisfied for the price of gold to rise over time at the general rate of inflation and hence be an effective long-run hedge against inflation. The model also demonstrates that short-...

This paper examines whether consumers necessarily benefit from tightening the price cap. We find that a tighter price cap always increases consumer welfare when demands are independent. Conversely, when demands are interdependent a tighter price cap may reduce consumer welfare.  2000 Elsevier Science S.A. All rights reserved.

Customers often select service providers by trading three categories of service attributes: prices, service levels as measured by the response time to a service request, and all other intangible attributes. The purpose of this paper is to study the equilibrium behavior in a market with both smalland large-scale service providers that compete on both the price and service-level attributes. We fi...

Previous studies on the price and time trade-off in real estate focused primarily on the real estate traded in the secondary market. This relation, however, depends rather critically on seller motivations. This study examines the price and time trade-off for new residential developments where developer motivations differ substantially from individual seller motivations. In addition, by using th...

This paper extends previous works that view transit systems as minimizing their after-subsidy costs. The paper uses the expense preference behavior model in economics and derives ®rst-order conditions for the manager. From the ®rst-order conditions, the paper formally shows that the decomposition of relative price ineciency between management behavior and subsidies found in the work of Sakano ...