The Death of the Pizza Principle

Since 1980, the convergence of New York City subway fares and pizza slice prices was a predictable phenomenon called the pizza principle.

Why Gasoline Prices Rise Faster Than They Fall

Seeing that barrels of crude oil are increasing expensive, we can ask if and how quickly our gasoline prices will respond.

The People With the Most and Least Inflation

While monthly CPI reports emphasize the average increase in prices, we can also use it to see the differences in household spending.

The Ups and Downs of Gas Prices

Because our spending on gasoline is somewhat constant, gas price fluctuations can have a massive impact on what we spend elsewhere.

How Algorithms Change Gasoline Prices

Looking at gasoline prices that are controlled by algorithms, we could be surprised by how they affect competition.

How Much We Care About Gasoline Prices

Since one state’s gasoline prices could be double what people pay in another state, we can ask if the price affects how much we purchase.

Rockets, Feathers and Gasoline Prices

Gasoline prices rise faster than they fall because monopolistic competition provides retailers with some price control although their product is identical.

Why New Jersey Has Lower Gas Prices Than California

Since gasoline prices vary in the U.S. because of different state taxes and wholesale crude, the impact on consumption expenditures also is different.

Up Like a Rocket, Down Like a Feather

At your local gas station, you might be seeing some sticky prices. Although barrels of West Texas Intermediate (WTI) and Brent Crude have steadily gotten cheaper, the price at the pump has had a less steep downward trajectory. One economic study…

The Expensive Side of (Venezuela’s) Cheap Gas

Subsidies and taxes determine the price of gasoline. Whether gasoline is cheap or expensive, its price affects people’s incentives and national tradeoffs.