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e61 Lounge Session with David Byrne | Asymmetric Information Sharing in Oligopoly: A Natural Experiment in Retail Gasoline

15 February @ 12:00 pm - 1:00 pm AEDT

Free

Time & Location

Thursday 15th February 2024, 12:00 pm – 1:00 pm
e61 Institute, Level 3/17-21 Bellevue Street Surry Hills NSW 2010, Australia | In-Person Event Only

About the event

David Byrne will be presenting on: Asymmetric Information Sharing in Oligopoly: A Natural Experiment in Retail Gasoline.

Abstract

Abstract: Using a natural experiment from a retail gasoline antitrust case, we study how asymmetric information sharing affects oligopoly pricing. Empirically, price competition softens when, following case settlement, information sharing shifts from symmetric to asymmetric, with one firm losing access to high-frequency, granular rival price data. We provide theory and empirics illustrating how strategic ignorance creates price commitment, leading to higher price-cost margins. Using a structural model, we quantify the impact of asymmetric information sharing on firms’ profits, finding substantial profit-enhancing effects. These results provide a cautionary tale for antitrust agencies regarding the potential unintended consequences of limiting price information sharing.

Details

Date:
15 February
Time:
12:00 pm - 1:00 pm AEDT
Cost:
Free

Organizer

e61 Institute
Email
contact@e61.in
View Organizer Website

Venue

e61 Institute
Level 3/17-21 Bellevue Street
Surry Hills, NSW 2010 Australia
View Venue Website

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e61 Lounge Session with David Byrne | Asymmetric Information Sharing in Oligopoly: A Natural Experiment in Retail Gasoline


e61 Institute Level 3/17-21 Bellevue Street, Surry Hills, NSW, 2010, Australia
Loading Events

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  • This event has passed.

e61 Lounge Session with David Byrne | Asymmetric Information Sharing in Oligopoly: A Natural Experiment in Retail Gasoline

15 February @ 12:00 pm - 1:00 pm AEDT

Free

Time & Location

Thursday 15th February 2024, 12:00 pm – 1:00 pm
e61 Institute, Level 3/17-21 Bellevue Street Surry Hills NSW 2010, Australia | In-Person Event Only

About the event

David Byrne will be presenting on: Asymmetric Information Sharing in Oligopoly: A Natural Experiment in Retail Gasoline.

Abstract

Abstract: Using a natural experiment from a retail gasoline antitrust case, we study how asymmetric information sharing affects oligopoly pricing. Empirically, price competition softens when, following case settlement, information sharing shifts from symmetric to asymmetric, with one firm losing access to high-frequency, granular rival price data. We provide theory and empirics illustrating how strategic ignorance creates price commitment, leading to higher price-cost margins. Using a structural model, we quantify the impact of asymmetric information sharing on firms’ profits, finding substantial profit-enhancing effects. These results provide a cautionary tale for antitrust agencies regarding the potential unintended consequences of limiting price information sharing.

Details

Date:
15 February
Time:
12:00 pm - 1:00 pm AEDT
Cost:
Free

Organizer

e61 Institute
Email
contact@e61.in
View Organizer Website

Venue

e61 Institute
Level 3/17-21 Bellevue Street
Surry Hills, NSW 2010 Australia
View Venue Website

Time & Location

Thursday 15th February 2024, 12:00 pm – 1:00 pm
e61 Institute, Level 3/17-21 Bellevue Street Surry Hills NSW 2010, Australia | In-Person Event Only

About the event

David Byrne will be presenting on: Asymmetric Information Sharing in Oligopoly: A Natural Experiment in Retail Gasoline.

Abstract

Abstract: Using a natural experiment from a retail gasoline antitrust case, we study how asymmetric information sharing affects oligopoly pricing. Empirically, price competition softens when, following case settlement, information sharing shifts from symmetric to asymmetric, with one firm losing access to high-frequency, granular rival price data. We provide theory and empirics illustrating how strategic ignorance creates price commitment, leading to higher price-cost margins. Using a structural model, we quantify the impact of asymmetric information sharing on firms’ profits, finding substantial profit-enhancing effects. These results provide a cautionary tale for antitrust agencies regarding the potential unintended consequences of limiting price information sharing.

Loading Events

« All Events

  • This event has passed.

e61 Lounge Session with David Byrne | Asymmetric Information Sharing in Oligopoly: A Natural Experiment in Retail Gasoline

15 February @ 12:00 pm - 1:00 pm AEDT

Free

Time & Location

Thursday 15th February 2024, 12:00 pm – 1:00 pm
e61 Institute, Level 3/17-21 Bellevue Street Surry Hills NSW 2010, Australia | In-Person Event Only

About the event

David Byrne will be presenting on: Asymmetric Information Sharing in Oligopoly: A Natural Experiment in Retail Gasoline.

Abstract

Abstract: Using a natural experiment from a retail gasoline antitrust case, we study how asymmetric information sharing affects oligopoly pricing. Empirically, price competition softens when, following case settlement, information sharing shifts from symmetric to asymmetric, with one firm losing access to high-frequency, granular rival price data. We provide theory and empirics illustrating how strategic ignorance creates price commitment, leading to higher price-cost margins. Using a structural model, we quantify the impact of asymmetric information sharing on firms’ profits, finding substantial profit-enhancing effects. These results provide a cautionary tale for antitrust agencies regarding the potential unintended consequences of limiting price information sharing.

Details

Date:
15 February
Time:
12:00 pm - 1:00 pm AEDT
Cost:
Free

Organizer

e61 Institute
Email
contact@e61.in
View Organizer Website

Venue

e61 Institute
Level 3/17-21 Bellevue Street
Surry Hills, NSW 2010 Australia
View Venue Website