March 17, 2016 - 3:25 AM EDT
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Reports Summarize Economic Modelling Findings from University of Auckland (Competition and petrol pricing in the smartphone era: Evidence from...

Reports Summarize Economic Modelling Findings from University of Auckland (Competition and petrol pricing in the smartphone era: Evidence from

Singapore
)

By a News Reporter-Staff News Editor at China Weekly News -- Fresh data on Economic Modelling are presented in a new report. According to news reporting originating from

Auckland, New Zealand
, by VerticalNews correspondents, research stated, "This paper examines how pre-tax petrol and diesel prices in
Singapore
respond to changes in crude oil prices using an asymmetric error correction model."

Our news editors obtained a quote from the research from the University of Auckland, "We pay particular attention to the effect increased use of smartphones may have had in altering the pattern of price adjustment as consumers become more informed about fuel prices and as search costs decline. The results suggest that increases in the use of smartphones and tablets have increased the estimated short-term response rate but only for the adjustment of retail prices to decreases in crude oil prices."

According to the news editors, the research concluded: "We find no evidence of a smartphone effect for wholesale prices indicative of the different roles played by consumers in competition."

For more information on this research see: Competition and petrol pricing in the smartphone era: Evidence from

Singapore
. Economic Modelling, 2016;53():144-155. Economic Modelling can be contacted at: Elsevier Science Bv, PO Box 211, 1000 Ae
Amsterdam, Netherlands
. (Elsevier - www.elsevier.com; Economic Modelling - www.journals.elsevier.com/economic-modelling/)

The news editors report that additional information may be obtained by contacting M.H. Liu, University of Auckland, Sch Business,

Auckland
1,
New Zealand
. Additional authors for this research include D. Margaritis and Y. Zhang.

Keywords for this news article include:

Asia
, Energy,
Auckland
, Oil & Gas, Oil Price,
Singapore
, Economic Modelling,
Australia and New Zealand

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Source: Equities.com News (March 17, 2016 - 3:25 AM EDT)

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