Posts Tagged ‘reference pricing’

  • Because of monopolistic competition, gasoline retailers has some control over price.

    Up Like a Rocket, Down Like a Feather

    Oct 24, 14 • 233 Views • No Comments

    At your local gas station, you might be seeing some sticky prices. Although barrels of West Texas Intermediate (WTI) and Brent Crude have steadily gotten cheaper, the price at the pump has had a less steep downward trajectory. One economic study observed...  [read more]

  • California Consumers and Gas Prices

    Oct 9, 12 • 390 Views • No Comments

    How might California be responding to $5.00 gas? Let’s start with bread machines. Behavioral economist Dan Ariely explains that when one of the first sellers of bread machines placed it on the shelf, few people were interested because they could not...  [read more]