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SUMMARY:Online seminar – Price transparency\, media and informative adve
 rtising - Professor Itai Ater\, Coller School of Management\, Tel Aviv Uni
 versity
DTSTART:20211110T150000Z
DTEND:20211110T160000Z
UID:TALK166156@talks.cam.ac.uk
CONTACT:Emily Brown
DESCRIPTION:We study the effects of a regulation requiring supermarket cha
 ins in Israel to post prices online. Using price data collected before and
  after the regulation went into effect and a differences in differences re
 search design\, we show that both price levels and price dispersion declin
 ed after the regulation was instituted. These patterns were driven primari
 ly by price reductions in high priced chains. Chains also nearly eliminate
 d within chain price dispersion\, by setting identical prices in all store
 s. We use the framework by Robert and Stahl (1993) to interpret our findin
 gs. Consistent with their model\, we show that after prices became transpa
 rent low priced chains used extensively price advertising\, referencing to
  price comparison surveys conducted by the media to induce credibility. Ou
 r findings highlight the importance of the media in facilitating credible 
 informative advertising and the pro competitive role of advertising.\n\n\n
LOCATION: Via Zoom
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