Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

Media, Political Pressure, and the Firm: The Case of Petroleum Pricing in the Late 1970s

Media, Political Pressure, and the Firm: The Case of Petroleum Pricing in the Late 1970s Abstract This paper empirically examines whether major domestic oil companies held down product prices relative to their less visible counterparts during the 1979 oil crisis. We compare company prices on unregulated fuel oil with a measure of political pressure—the level of television coverage of the energy crisis. We find that media coverage influenced home heating oil price ratios, but did not influence residual fuel oil price ratios for the same companies. We argue that this differential pricing pattern is rational in a politically sensitive period. This content is only available as a PDF. Copyright © 1990 by the President and Fellows of Harvard College and The Massachusetts Institute of Technology http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Quarterly Journal of Economics Oxford University Press

Media, Political Pressure, and the Firm: The Case of Petroleum Pricing in the Late 1970s

Loading next page...
 
/lp/oxford-university-press/media-political-pressure-and-the-firm-the-case-of-petroleum-pricing-in-fRFFhgFkED

References (8)

Publisher
Oxford University Press
Copyright
Copyright © 1990 by the President and Fellows of Harvard College and The Massachusetts Institute of Technology
ISSN
0033-5533
eISSN
1531-4650
DOI
10.2307/2937821
Publisher site
See Article on Publisher Site

Abstract

Abstract This paper empirically examines whether major domestic oil companies held down product prices relative to their less visible counterparts during the 1979 oil crisis. We compare company prices on unregulated fuel oil with a measure of political pressure—the level of television coverage of the energy crisis. We find that media coverage influenced home heating oil price ratios, but did not influence residual fuel oil price ratios for the same companies. We argue that this differential pricing pattern is rational in a politically sensitive period. This content is only available as a PDF. Copyright © 1990 by the President and Fellows of Harvard College and The Massachusetts Institute of Technology

Journal

The Quarterly Journal of EconomicsOxford University Press

Published: Feb 1, 1990

There are no references for this article.