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Media, political pressure, and the firm: the case of petroleum pricing in the late 1970s

Quarterly Journal of Economics [February 1990]


Copyright (c) 1990

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.

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Publication Year:1990
Type of Material:Article
Language English
Published in: Quarterly Journal of Economics
Publication Info:Volume 105 Number 1
Issue:February 1990
Notes:Television News Index and Abstracts listed as a reference.
Subject: Vanderbilt Television News Archive -- Research Use
Record Number:10155
Last Update:2012-12-29 14:06:47
Date Created:0000-00-00 00:00:00