Asymmetric price adjustment and loss aversion

Detalhes bibliográficos
Ano de defesa: 2016
Autor(a) principal: Garcia, João Marcos Bastos Vilar
Orientador(a): Ferman, Bruno
Banca de defesa: Não Informado pela instituição
Tipo de documento: Dissertação
Tipo de acesso: Acesso aberto
Idioma: eng
Instituição de defesa: Não Informado pela instituição
Programa de Pós-Graduação: Não Informado pela instituição
Departamento: Não Informado pela instituição
País: Não Informado pela instituição
Palavras-chave em Português:
Ajuste assimétrico
Aversão à perda
Procura
Link de acesso: http://hdl.handle.net/10438/16551
Resumo: Asymmetric price adjustment is observed in several markets, most notably gasoline retail: a cost increase is passed through to consumers faster than a cost decrease. I develop a consumer-search model that generates this prediction under loss aversion. A fraction of consumers are ignorant of market prices and can choose to acquire information costly, allowing firms to profit with price dispersion. Asymmetric price adjustment emerges if consumers are loss-averse in relation to a reference price. Higher costs make consumers more willing to search, but also lower the probability of finding low prices, generating convexity in the cost-price relation.
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spelling Garcia, João Marcos Bastos VilarEscolas::EESPGuimarães, Bernardo de VasconcellosAzevedo, Paulo Furquim deFerman, Bruno2016-05-24T13:36:04Z2016-05-24T13:36:04Z2016-05-04GARCIA, João Marcos Bastos Vilar. Asymmetric price adjustment and loss aversion. Dissertação (Mestrado em Economia de Empresas) - FGV - Fundação Getúlio Vargas, São Paulo, 2016.http://hdl.handle.net/10438/16551Asymmetric price adjustment is observed in several markets, most notably gasoline retail: a cost increase is passed through to consumers faster than a cost decrease. I develop a consumer-search model that generates this prediction under loss aversion. A fraction of consumers are ignorant of market prices and can choose to acquire information costly, allowing firms to profit with price dispersion. Asymmetric price adjustment emerges if consumers are loss-averse in relation to a reference price. Higher costs make consumers more willing to search, but also lower the probability of finding low prices, generating convexity in the cost-price relation.Ajuste assimétrico de preço é observado em diversos mercados, notavelmente varejo de gasolina: um aumento de custo é passado para os consumidores mais rápido do que uma redução. Eu desenvolvo um modelo de busca dos consumidores que gera essa predição sob aversão à perda. Uma fração dos consumidores ignora os preços no mercado e pode adquirir informação a um custo, o que permite que as firmas tenham lucro com dispersão de preços. Ajuste assimétrico de preço emerge se os consumidores são aversos a perdas em relação a um preço de referência. Custos mais altos tornam os consumidores mais dispostos a procurar, mas também diminui as chances de encontrar preços baixos, gerando uma relação custo-preço convexa.engAjuste assimétricoAversão à perdaProcuraEconomiaGasolina - Mercado - BrasilGasolina - Preços - BrasilControle de preçosGasolina - Oferta e procuraEquilíbrio econômicoAsymmetric price adjustment and loss aversioninfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVinfo:eu-repo/semantics/openAccessORIGINALJGarcia_Diss.pdfJGarcia_Diss.pdfapplication/pdf400657https://repositorio.fgv.br/bitstreams/d412880c-5367-4eb9-be20-418195a0699b/download4e2905bc9dd819987c2f411c095f7b02MD53LICENSElicense.txtlicense.txttext/plain; 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dc.title.eng.fl_str_mv Asymmetric price adjustment and loss aversion
title Asymmetric price adjustment and loss aversion
spellingShingle Asymmetric price adjustment and loss aversion
Garcia, João Marcos Bastos Vilar
Ajuste assimétrico
Aversão à perda
Procura
Economia
Gasolina - Mercado - Brasil
Gasolina - Preços - Brasil
Controle de preços
Gasolina - Oferta e procura
Equilíbrio econômico
title_short Asymmetric price adjustment and loss aversion
title_full Asymmetric price adjustment and loss aversion
title_fullStr Asymmetric price adjustment and loss aversion
title_full_unstemmed Asymmetric price adjustment and loss aversion
title_sort Asymmetric price adjustment and loss aversion
author Garcia, João Marcos Bastos Vilar
author_facet Garcia, João Marcos Bastos Vilar
author_role author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EESP
dc.contributor.member.none.fl_str_mv Guimarães, Bernardo de Vasconcellos
Azevedo, Paulo Furquim de
dc.contributor.author.fl_str_mv Garcia, João Marcos Bastos Vilar
dc.contributor.advisor1.fl_str_mv Ferman, Bruno
contributor_str_mv Ferman, Bruno
dc.subject.por.fl_str_mv Ajuste assimétrico
Aversão à perda
Procura
topic Ajuste assimétrico
Aversão à perda
Procura
Economia
Gasolina - Mercado - Brasil
Gasolina - Preços - Brasil
Controle de preços
Gasolina - Oferta e procura
Equilíbrio econômico
dc.subject.area.por.fl_str_mv Economia
dc.subject.bibliodata.por.fl_str_mv Gasolina - Mercado - Brasil
Gasolina - Preços - Brasil
Controle de preços
Gasolina - Oferta e procura
Equilíbrio econômico
description Asymmetric price adjustment is observed in several markets, most notably gasoline retail: a cost increase is passed through to consumers faster than a cost decrease. I develop a consumer-search model that generates this prediction under loss aversion. A fraction of consumers are ignorant of market prices and can choose to acquire information costly, allowing firms to profit with price dispersion. Asymmetric price adjustment emerges if consumers are loss-averse in relation to a reference price. Higher costs make consumers more willing to search, but also lower the probability of finding low prices, generating convexity in the cost-price relation.
publishDate 2016
dc.date.accessioned.fl_str_mv 2016-05-24T13:36:04Z
dc.date.available.fl_str_mv 2016-05-24T13:36:04Z
dc.date.issued.fl_str_mv 2016-05-04
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
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status_str publishedVersion
dc.identifier.citation.fl_str_mv GARCIA, João Marcos Bastos Vilar. Asymmetric price adjustment and loss aversion. Dissertação (Mestrado em Economia de Empresas) - FGV - Fundação Getúlio Vargas, São Paulo, 2016.
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10438/16551
identifier_str_mv GARCIA, João Marcos Bastos Vilar. Asymmetric price adjustment and loss aversion. Dissertação (Mestrado em Economia de Empresas) - FGV - Fundação Getúlio Vargas, São Paulo, 2016.
url http://hdl.handle.net/10438/16551
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.source.none.fl_str_mv reponame:Repositório Institucional do FGV (FGV Repositório Digital)
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