Price collusion and deregulation in the Japanese retail gasoline market
This paper estimates models for the retail price of gasoline in Tokyo and Osaka based on recent game theory emphasizing the importance of forward-looking behaviour by firms. Using monthly data for the 1990s, this paper presents evidence consistent with the theory that future changes in the economic environment firms face do have an impact on the current retail price of gasoline. Some evidence is also presented that suggests the behaviour of retail prices has changed over the time period being examined. (C) 2002 IMACS. Published by Elsevier Science B.V. All rights reserved.
collusion deregulation gasoline game theory pricing behaviour