Affiliation:
1. Faculty of Economics and Law Shinshu University Nagano Japan
Abstract
AbstractIn the early stages of the COVID‐19 pandemic, masks and alcohol sanitizers were hoarded and resold in online markets. In Japan, restrictions were imposed on such resale. This paper examines changes in the behavior of economic agents and their surplus before and after the resale restrictions in the online market. We collected data on the auctions and fixed‐price sales of anhydrous ethanol before and after the resale regulation. Using these estimated parameters, we evaluated the changes in the surpluses per transaction. We found that, on average, the regulation reduced the consumer surplus and the producer surplus by about JPY 160 and JPY 1500, respectively.
Funder
Japan Society for the Promotion of Science
Subject
Management Science and Operations Research,General Business, Management and Accounting,Modeling and Simulation