Scraped Data and Sticky Prices
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rest_a_00652.pdf
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629.58 KB
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Adobe PDF
Checksum (MD5)
fec03e4d7cb73ad475990f7395a8705b
Author(s)
Cavallo, Alberto F.
Date Issued
November 2016
Journal
Review of Economics and Statistics
Publisher
MIT Press
Citation
Cavallo, Alberto. “Scraped Data and Sticky Prices.” The Review of Economics and Statistics, November 2016. © 2016 MIT Press
Version
Final published version
Abstract
I use daily prices collected from online retailers in five countries to study the impact of measurement bias on three common price stickiness statistics. Relative to previous results, I find that online prices have longer durations, with fewer price changes close to 0, and hazard functions that initially increase over time. I show that time-averaging and imputed prices in scanner and CPI data can fully explain the differences with the literature. I then report summary statistics for the duration and size of price changes using scraped data collected from 181 retailers in 31 countries.
MIT Department
Sloan School of Management
Terms of Use
Article is made available in accordance with the publisher's policy and may be subject to US copyright law. Please refer to the publisher's site for terms of use.
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DOI of Published Version
https://doi.org/10.1162/REST_A_00652
