BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//jEvents 2.0 for Joomla//EN
CALSCALE:GREGORIAN
METHOD:PUBLISH
BEGIN:VEVENT
UID:cc5f89c03d2f2810d76ef0d2bdb8196b
CATEGORIES:Seminars
CREATED:20170418T173434
SUMMARY:Lunch Seminar: Nicholas Trachter - Federal Reserve Bank of Richmond
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p style="text-align: justify;"><strong>Relative Price Dispersion: Evidence
  and Theory</strong> (joint with G. Kaplan, G. Menzio, and L. Rudanko)</p><
 p style="text-align: justify;">Abstract:<br /> We document that a sizeable 
 portion of the cross-sectional variation in the price at which the same goo
 d trades in the same period and in the same market is due to the fact that 
 stores that are, on average, equally expensive set persistently different p
 rices for the same good. We refer to this phenomenon as relative price disp
 ersion. We argue that relative price dispersion stems from sellers’ attempt
 s to discriminate between high-valuation buyers who need to make all of the
 ir purchases in the same store and low-valuation buyers who are willing to 
 purchase different items from different stores. We calibrate our theory and
  show that it is not only consistent with the extent and sources of dispers
 ion in the price that different sellers charge for the same good, but also 
 with the extent and sources of dispersion in the prices that different hous
 eholds pay for the same basket of goods and with the relationship between p
 rices paid and the number of stores visited by different households.</p>
DTSTAMP:20260407T105700Z
DTSTART:20160614T130000Z
DTEND:20160614T140000Z
SEQUENCE:0
TRANSP:OPAQUE
END:VEVENT
END:VCALENDAR