“Rockets and feathers” phenomenon

Stella Tsani and Alexandros Tsioutsios

Chapter 104 in Elgar Encyclopedia of Energy Economics, 2025, pp 410-411 from Edward Elgar Publishing

Abstract: This entry introduces the “rockets and feathers” concept, which represents the asymmetric response of retail gasoline prices to crude oil price fluctuations. Initially identified by Bacon (1991), this concept has led to significant theoretical and empirical exploration of price asymmetries in the oil market. This work synthesizes key findings and theoretical perspectives and it highlights the methodological approaches employed to examine the pricing behaviors. The entry contributes to the literature by providing a consolidated view of the diverse market responses in the oil sector, emphasizing the need for a nuanced understanding of regional and global market dynamics.

Keywords: Rockets and Feathers; Asymmetric Pricing; Oil Markets; Oligopolistic Structure; Econometric Model; Market Inefficiency; Energy (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035310364
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