We address some open issues regarding the characterization of double auctions. Our model is a two-sided commodity market with either finitely or infinitely many traders. We first unify existing formulations for both finite and infinite markets and generalize the characterization of market...

Carbon pricing policies worldwide are increasingly coupled with direct or indirect subsidies where emissions pricing revenues are rebated to the regulated entities. This paper analyzes the incentives created by two novel forms of rebating that reward additional emission intensity reductions: one...

In this paper, we revisit price and volatility transmission among natural gas, fertilizer, and corn markets; an important issue was explored in previous work. An update of the results is urgently needed due to the recent enormous price volatility in the commodities, fertilizer, and energy...

Firms often sell a transparent base product and a valuable add-on product. If only some consumers are aware of the latter, the add-on's effect on the base product's price will be ambiguous. Cross-subsidization between products to bait uninformed consumers might lower, intrinsic utility from the...

We try to examine the potential of input–output price model to identify mechanisms of price formation and transmission. Contrary to previous research that focused on overcoming the specific limitations of the model, we test its overall performance. In the presented study, the historical values...

Virtual cross-border medical tourism allows many residents in the United States to purchase brand name medicines from companies in Mexico without travelling there. Monthly economic reports indicate that the online brand name pharmaceutical product prices in Mexico are noticeably lower than the...

We present a weekly structural Vector Autoregressive (VAR) model of the US crude oil market. Exploiting weekly data we can explain short-run crude oil price dynamics, including those related with the COVID-19 pandemic and with the Russia's invasion of Ukraine. The model is set identified with a...

We experimentally test Kőszegi and Rabin's (2006, 2007) theory of reference-dependent preferences in the context of price expectations. In an incentivised valuation task, participants are endowed with a mug and provide their willingness to accept (WTA) to sell it. We manipulate the sale price...

The importance of constant consumer testing is emphasized in order for companies to deliver the highest value for the quality of products and services. To explain the psychological impact of price on product selection, and other factors that determine consumer behavior, a survey method was...

Natural gas prices in Germany saw a strong increase at the end of 2021, subsequently worsening with the start of the war in Ukraine in February 2022, raising concerns about the distributional consequences. Our study shows that low-income households are affected the most by the natural gas price...

Manufacturers often engage in practices that impede consumer search. Examples include proliferating product varieties, imposing vertical informational restraints, and banning online sales to make it more difficult for consumers to compare prices. This paper models vertical bargaining over...

The paper's primary purpose is to better monitor shocks; therefore, reliable scientific methods should be used to predict, monitor, and implement those events. In this paper, tourism prices are studied as an economic, I(2) and social phenomenon for better performance. The selection of...

Similar to the perfect one, second-degree price discrimination charges different price for different quantity. Unlike the perfect one, this time the discount is massive, and the quantity difference even so. An obvious explanation is that the customer is a wholesaler, who has a larger demand...

Bans on menthol cigarettes have been recommended by the World Health Organization, adopted throughout the European Union, and proposed by the United States Food and Drug Administration (FDA), primarily due to concerns that menthol cigarettes enable youth smoking. Yet there is almost no direct...

Most of the world's population lives in countries that ban the self-service sale of gasoline. Causal effects of this regulation can hardly be assessed in these countries due to a lack of policy changes, but a recent quasi-experiment in the state of Oregon allows us to analyze the impact of the...

The ownership of competing firms by investment funds, or common ownership, can cause anti-competitive product market outcomes. This paper examines the price effects of common ownership in the Western Australian (WA) retail gasoline market. Using a rich data set of daily, station-level petrol...

Using variation in crop prices induced by large swings in demand World War I, we examine the fertility response to increases in crop revenues during the period 1910-1930. Our estimates from samples utilizing both complete count decennial census microdata and newly collected county-level data...

We analyse the drivers of European Power Exchange (EPEX) retail electricity prices between 2012 and early 2022 using machine learning. The agnostic random forest approach that we use is able to reduce in-sample root mean square errors (RMSEs) by around 50% when compared to a standard linear...

Mixed and outdated natural gas price convergence results have caused confusion among analysts and strongly call for a comprehensive revision of the topic. The issue has been exacerbated with the recent rampant increase in LNG trade and the emergence of new gas spot trading hubs. Filling the gap,...

The problem of high pharmaceutical drug prices is a permanent object of global political debate. Nowadays this debate encompasses many different types of drugs, from innovative products and biologics to generic ones. Antitrust enforcement has traditionally targeted anticompetitive behaviour in...

Using several millions of daily prices collected over the period 2007-2018 in France, we investigate how gasoline retail prices respond to a common shock on marginal cost (i.e. the wholesale gasoline price quoted on the Rotterdam market). We find that the pass-through is complete: a 1% change in...

We study the variation of global and unilateral carbon price recommendations and their determinants. To this end, we provide survey evidence on carbon pricing from more than 400 experts across almost 40 countries. We quantify the extent of (dis-)agreement and reveal that a majority of experts...

Information on price transmission from crude oil to value-added fuels can disclose underlying market structures and behaviors, such as competitiveness and market power, which are relevant for developing energy outlooks and policy. Many studies have investigated price interdependences in...

We study different notions of sale and regular prices, and their variability with store pricing-formats. We use data from three large stores with different pricing-formats (EDLP/Hi-Lo/Hybrid) that are located within 1-km radius. Importantly, the data contain both the actual transaction prices...