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Heterogeneous Price Dynamics, Synchronization, and Retail Chains: Evidence from Scanner Data

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  • Andrés Elberg

Abstract

Using a novel scanner data set, I study price-setting decisions of major retailers in an emerging market economy. Pricing dynamics are heterogeneous across retail chains. Heterogeneity is especially pronounced in the case of posted (as opposed to reference) prices. Furthermore, retail chains appear to set prices in a centralized fashion: most barcode/store-level prices coincide with the intrachain modal price. The relationship between reference and chain-wide prices reveals that deviations from reference prices cannot be solely attributed to shocks to local market conditions. I find strong evidence of synchronization of price changes across stores within chains but weaker evidence of synchronization across retail chains.

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  • Andrés Elberg, 2014. "Heterogeneous Price Dynamics, Synchronization, and Retail Chains: Evidence from Scanner Data," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 50(6), pages 137-153, November.
    • Handle: RePEc:mes:emfitr:v:50:y:2014:i:6:p:137-153
    DOI: 10.1080/1540496X.2014.1013870
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    Cited by:

    1. Elberg, Andrés, 2016. "Sticky prices and deviations from the Law of One Price: Evidence from Mexican micro-price data," Journal of International Economics, Elsevier, vol. 98(C), pages 191-203.
    2. Andres Elberg, 2014. "Temporal Aggregation and Convergence to the Law of One Price: Evidence from Micro Data," Working Papers 53, Facultad de Economía y Empresa, Universidad Diego Portales.

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