유가정보공개가 가격결정에 미친 영향 : 시변 공적분 모형의 이용

In this study, we tried to determine whether the prediction of price search theory is correct, which the difference in price between sellers will reduce when more information provided for uniform goods. The gas market is known to suitable for testing the theory because gas is inelastic in the short term, price elasticity of demand is not different between consumers, virtually impossible for consumers to stock up against price fluctuations, and the supplier faced similar marginal cost. This study reviews the history of price disclosure system in Korea. Also, examines the introduction of the opinet, which is considered as a vital price information disclosure system, was significant to affect gas market pricing. In Korea, there is various price discrimination; at the same time, structural changes caused by oil price fluctuations. Therefore, instead of directly using the quoted prices, we assume that pricing between refiners is competitive. Moreover, applying a time-varying cointegration model from Bieren, Martin(2010), which takes into account the cointegration relation vary over time and measure the variance of price from its residuals. As a result, the price dispersion decreased when price information was provided at the time and place of purchase rather than the only introduction of opinet itself. Based on this, we concluded that a mobile platform that integrates the price information of the fuel, the electricity for vehicles, and the hydrogen for fuel cells. Will be needed in the future.