Price collusion and deregulation in the Japanese retail gasoline market

Ujo Goto; C. R. McKenzie

doi:10.1016/S0378-4754(01)00407-4

Price collusion and deregulation in the Japanese retail gasoline market

Ujo Goto, C. R. McKenzie

Research output: Contribution to journal › Conference article › peer-review

3 Citations (Scopus)

Abstract

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.

Original language	English
Pages (from-to)	187-195
Number of pages	9
Journal	Mathematics and Computers in Simulation
Volume	59
Issue number	1-3
DOIs	https://doi.org/10.1016/S0378-4754(01)00407-4
Publication status	Published - 2002 May 10
Externally published	Yes

Keywords

Collusion
Deregulation
Game theory
Gasoline
Pricing behaviour

ASJC Scopus subject areas

Theoretical Computer Science
Computer Science(all)
Numerical Analysis
Modelling and Simulation
Applied Mathematics

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10.1016/S0378-4754(01)00407-4

Cite this

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title = "Price collusion and deregulation in the Japanese retail gasoline market",

abstract = "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.",

keywords = "Collusion, Deregulation, Game theory, Gasoline, Pricing behaviour",

author = "Ujo Goto and McKenzie, {C. R.}",

note = "Funding Information: The authors wish to thank Masayoshi Matsui and employees of the Fuel, Oil and Fats Newspaper (Nenryo Yushi Shinbun) for providing detailed information on the Japanese oil industry. Earlier versions of this paper were presented at a meeting of the Kansai Econometrics Study Group, Kyoto University, November 1999, the International Congress on Modelling and Simulation MODSIM{\textquoteright}99, University of Waikato, December 1999, a seminar at James Cook University, and Economics 2000—29th Annual Conference of Economists, Surfers Paradise, July 2000. The second author wishes to acknowledge the financial assistance of the Personal Finance Service Industry Fund, Osaka School of International Public Policy, Osaka University and a Japanese Ministry of Education travel grant.",

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doi = "10.1016/S0378-4754(01)00407-4",

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AU - Goto, Ujo

AU - McKenzie, C. R.

N1 - Funding Information: The authors wish to thank Masayoshi Matsui and employees of the Fuel, Oil and Fats Newspaper (Nenryo Yushi Shinbun) for providing detailed information on the Japanese oil industry. Earlier versions of this paper were presented at a meeting of the Kansai Econometrics Study Group, Kyoto University, November 1999, the International Congress on Modelling and Simulation MODSIM’99, University of Waikato, December 1999, a seminar at James Cook University, and Economics 2000—29th Annual Conference of Economists, Surfers Paradise, July 2000. The second author wishes to acknowledge the financial assistance of the Personal Finance Service Industry Fund, Osaka School of International Public Policy, Osaka University and a Japanese Ministry of Education travel grant.

PY - 2002/5/10

Y1 - 2002/5/10

N2 - 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.

AB - 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.

KW - Collusion

KW - Deregulation

KW - Game theory

KW - Gasoline

KW - Pricing behaviour

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DO - 10.1016/S0378-4754(01)00407-4

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VL - 59

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JO - Mathematics and Computers in Simulation

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ER -

Price collusion and deregulation in the Japanese retail gasoline market

Abstract

Keywords

ASJC Scopus subject areas

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