The Consumer’s Micro-Micro Gasoline Buying Decision

Jannett Highfill () and Michael McAsey

International Advances in Economic Research, 2007, vol. 13, issue 4, 433-442

Abstract: A “micro-micro” consumer problem of gasoline purchases is examined using daily price data. Comparing the optimizing consumer with one who buys gasoline at random, the paper finds optimizers save about 4% of their annual gasoline bill. The paper also provides some evidence about the costs of non-optimal gasoline buying strategies. Copyright International Atlantic Economic Society 2007

Keywords: Gasoline; Consumer; Value of information; Q40 (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1007/s11294-007-9108-9

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