Market collusion and regime analysis in the US gasoline market

Seyedeh Asieh H. Tabaghdehi ()
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Seyedeh Asieh H. Tabaghdehi: Regents University London

Journal of Economic Structures, 2018, vol. 7, issue 1, 1-14

Abstract: Abstract This article is concerned with disequilibrium regime switching model to capture different regimes in the US gasoline markets. The purpose is to illustrate potential regimes in gasoline market. Following a suggestion in Hunter and Tabaghdehi (Cointegration and US regional gasoline prices: testing market efficiency from the stationarity of price proportions. Brunel University Working Paper, 13-03, 2013a), gasoline markets may not be efficient either across regions or within local markets. The Markov model may also be used as a benchmark to make comparison with other methods. The finding specifies that deviations from long-run equilibrium have an effect on gasoline price dynamics and captures two different regimes of supply and demand in this market.

Keywords: Gasoline; Disequilibrium; Regime switching; Energy market efficiency; Collusion (search for similar items in EconPapers)
Date: 2018
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DOI: 10.1186/s40008-018-0106-2

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