Timeline for Why do gas stations charge different amounts in the same local area?
Current License: CC BY-SA 3.0
8 events
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| Jun 16, 2020 at 10:49 | history | edited | CommunityBot |
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| Apr 25, 2012 at 18:10 | comment | added | user296 | This is an application what they call "price discrimination" via "market segmentation" - essentially getting people with more money to spend more for the same stuff, sometimes by tying the price to the availability of "amenities" or other conveniences (e.g. being near the freeway). Price discrimination figures most prominently in the hard-to-comprehend areas of air travel and college tuition; with commodities like gas, though, the market can only support a certain level of price discrimination before people start pumping their gas elsewhere... | |
| Mar 9, 2012 at 11:59 | comment | added | dbkk | @Jim Oddly, this is not the case in East Asia. Most franchise stores (e.g. 7-11, Tesco) will have the exact same prices on most items. That's actually their main benefit over smaller stores (which have varying prices, sometimes not posted, but made up on the spot by the owner). | |
| Mar 8, 2012 at 19:33 | vote | accept | Vik David | ||
| Mar 8, 2012 at 19:33 | comment | added | Vik David | Great answer! I figured multiple factors were in play, since no single factor explains the variance. Now if some Industry insider would publish the "secret weighting of factors"... | |
| Mar 7, 2012 at 1:30 | comment | added | Justicle | Well, not just drugs, most products are priced at what the market will bear. No sense selling for less right? | |
| Mar 6, 2012 at 18:55 | comment | added | Jim McKeeth | Gas stations are not the only one. Grocery stores that are part of the same chain will see the same products for different prices within the same city because for the same reasons. | |
| Mar 6, 2012 at 18:41 | history | answered | Jeff Atwood | CC BY-SA 3.0 |