Df | F value | Pr(> F) | |
---|---|---|---|
4 | 10.53 | 0.0000 | |
2546 |
Importance: | N containing models | |
---|---|---|
1 | 128 | |
1 | 128 | |
0.92 | 128 | |
0.55 | 128 | |
0.45 | 128 | |
0.34 | 128 | |
0.29 | 128 | |
0.28 | 128 |
4 | 0.00 | 0.00 | 0.00 | 1.0000 | |
2546 | 46.95 | 0.02 |
Df | Sum Sq | Mean Sq | F value | Pr(> F) | |
---|---|---|---|---|---|
16 | 0.04 | 0.00 | 0.15 | 1.0000 | |
2534 | 46.91 | 0.02 |
Model 1 | Model 2 | Model 3 /4 | Final Model | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Estimates | Confidence Intervals | p-values | Estimates | Confidence Intervals | p-values | Estimates | Confidence Intervals | p-values | Estimates | Confidence Intervals | p-values | |
(Intercept) | -0.0928 | -0.20-0.01 | 0.077 | -0.1419 | -0.24 - -0.05 | 0.003 | -0.1397 | -0.20 - -0.08 | <.001 | -0.1517 | -0.21 --0.09 | <.001 |
pop_density | -0.0002 | -0.00 - -0.00 | <.001 | -0.0002 | -0.00 - -0.00 | <.001 | -0.0002 | -0.00 - -0.00 | <.001 | -0.0002 | -0.00--0.00 | <.001 |
netearnings | -0.0064 | -0.01 --0.00 | 0.039 | 0.0003 | -0.00 - 0.00 | 0.829 | ||||||
ulab_cost | 0.0035 | 0.00-0.01 | 0.02 | |||||||||
vat_stdrate | -0.0013 | -0.00 - 0.00 | 0.385 | -0.0003 | -0.00 - 0.00 | 0.831 | ||||||
ele_cost | -0.2056 | -0.39 - -0.02 | 0.033 | -0.1069 | -0.28 - 0.06 | 0.217 | ||||||
E95_price | 0.0733 | -0.02-0.16 | 0.108 | 0.08 | -0.01 -0.17 | 0.079 | 0.087 | 0.03-0.14 | 0.003 | 0.105 | 0.05-0.16 | <.001 |
diesel_price | 0.0093 | -0.10-0.11 | 0.862 | 0.0227 | -0.08-0.13 | 0.668 | ||||||
GdpR_pc_rep | 0.0021 | 0.00-0.00 | <.001 | 0.0018 | 0.00 - 0.00 | <.001 | 0 | 0.00 - 0.00 | <.001 | 0.0014 | 0.00-0.00 | <.001 |
interest_rate | 0.0057 | 0.00-0.01 | 0.019 | 0.0032 | -0.00-0.01 | 0.139 | 0.0027 | -0.00-0.01 | 0.156 | |||
Observations | 2551 | 2551 | 2551 | 2551 | ||||||||
R2/ adj. R2 | .047/.043 | .045/.042 | .043 / .042 |
Variable | mean | standard deviation | median | min | max | range | skew | kurtosis |
---|---|---|---|---|---|---|---|---|
Real [EUR, GDP ths] per capita | 25.56 | 14.85 | 19.11 | 4.92 | 49.36 | 44.44 | 0.2 | -1.64 |
Unit [EUR/cost h] of labour | 18.67 | 12.01 | 15.6 | 3.8 | 40.3 | 36.5 | 0.45 | -1.45 |
Average annual net salary [EUR/full time] | 8.99 | 5.78 | 6.83 | 1.95 | 18.97 | 17.02 | 0.43 | -1.51 |
Electric energy price [EUR/kwh] | 0.18 | 0.06 | 0.17 | 0.09 | 0.3 | 0.21 | 0.64 | -0.46 |
Europrice 95 [EUR/petrol litre] | 1.31 | 0.14 | 1.34 | 1.1 | 1.57 | 0.47 | 0.2 | -1.21 |
Diesel price [fuel EUR/litre] | 1.24 | 0.1 | 1.23 | 1.13 | 1.54 | 0.41 | 1.18 | 0.87 |
Cost interest of capital rate [%] – (a) | 1.8 | 1.59 | 1.14 | 0.52 | 7.81 | 7.29 | 2.22 | 5.55 |
Standard VAT rate [%] (b) | 22.04 | 2.07 | 21 | 19 | 27 | 8 | 0.6 | -0.69 |
Population density | 130.34 | 111.73 | 103.41 | 17.98 | 500.57 | 482.59 | 1.8 | 2.96 |
# of products | |||
---|---|---|---|
Category | scrapped | after cleaning | in final sample |
Fashion | 362 | 154 | 33 |
Cosmetics & Healthcare | 87 | 33 | 24 |
Households Appliances | 58 | 56 | 35 |
Electronics Computer Hardware and | 84 | 75 | 43 |
Computer Games and Software | 66 | 64 | 47 |
657 | 382 | 182 |
Country | # of products | # of observations | Country | # of products | # of observations |
---|---|---|---|---|---|
Austria | 143 | 1,183 | Italy | 131 | 910 |
Belgium | 16 | 37 | Latvia | 115 | 2,447 |
Bulgaria | 101 | 678 | Lithuania | 92 | 494 |
Croatia | 91 | 340 | Netherlands | 39 | 380 |
Czech Republic | 144 | 2,427 | Poland | 137 | 1,805 |
Denmark | 127 | 844 | Portugal | 36 | 158 |
Estonia | 58 | 763 | Romania | 141 | 1,152 |
Finland | 73 | 346 | Slovakia | 152 | 1,963 |
France | 92 | 766 | Slovenia | 91 | 469 |
Germany | 70 | 989 | Spain | 72 | 386 |
Greece | 130 | 1,359 | Sweden | 144 | 2,177 |
Hungary | 149 | 1,482 | United Kingdom | 131 | 1,342 |
Ireland | 76 | 505 |
16 | 5.50 | 0.0000 | |
2534 |
24 | 4.84 | 0.20 | 12.09 | 0.0000 | |
2526 | 42.11 | 0.02 |
Df | F value | Pr(> F) | |
---|---|---|---|
24 | 2.23 | 0.0005 | |
2526 |
variable | Model 1 | Model 2 | Model 3 | Model 4 |
---|---|---|---|---|
4.84 | 4.78 | |||
5.58 | 5.56 | 2.25 | 2.25 | |
4.02 | 3.24 | |||
7.70 | 7.29 | 2.23 | 2.23 | |
2.43 | 1.97 | 1.50 | 1.50 | |
38.90 | 5.78 | |||
1.55 | 1.55 | 1.35 | 1.35 | |
40.29 | ||||
1.56 | 1.44 |
Name of variable in the model | Variable description |
---|---|
PD: [percent_deviation] | Percentage deviation of the median of product prices in a given country from the average of medians for all countries based on the web |
DS.: [GDP_pc] | Real GDP |
DS: [net_earnings] | Average annual net salary in 2014 |
SS: [pop_density] | Population density – proxy for transportation costs |
IE: [vat_stdrate] | Current level of standard VAT rate |
SS: [ele_cost] | Unit cost of electric energy, average annual value in 2014 |
SS: [E95_price] | Euro95 petrol price, average annual value in 2014 |
SS: [diesel_price] | Diesel oil price, average annual value in 2014 |
SS: [unit_lab_cost] | Unit cost of labour, average annual value in 2014 |
SS: [interest_rate] | Current interest rate on 10-year Treasury bonds in the secondary market– capital price index |
PC: [Games for PC], [Games for consoles], [Consoles], [Cosmetics], [Laptops and computers], [Small household appliances for the home | |
< EUR 100], [Small household appliances for the home > EUR 100], [Small household appliances for the kitchen], [Monitors], [Footwear], | |
[Perfumes], [Software], [Tablets and e-book readers], [Clothing], [Body care appliances] – Binary variables for subcategories of products. |
Category | Subcategory | Average absolute price dispersion | Average # of observation per product | Quantile coefficient of dispersion (0.9-0.1) | Quantile price dispersion (0.9-0.1) [EUR] | Quantile coefficient of dispersion (0.75-0.25) | Quantile price dispersion (0.75-0.25) [EUR] | Coefficient of variation (mean) | Coefficient of variation (median) |
---|---|---|---|---|---|---|---|---|---|
Fashion | Clothing | 13.9% | 9.91 | 39.3% | 27.65 | 18.3% | 12.03 | 0.35 | 0.34 |
Fashion | Footwear | 12.3% | 12.36 | 31.1% | 27.91 | 18.0% | 16.08 | 0.25 | 0.26 |
Fashion | Accessories | 7.92 | 26.4% | 21.16 | 12.1% | 10.52 | 0.54 | 0.49 | |
Cosmetics & Healthcare | Cosmetics | 12.9% | 12.72 | 36.2% | 11.93 | 19.4% | 4.28 | 1.16 | 1.53 |
Cosmetics & Healthcare | Perfumes | 12.5% | 12.53 | 35.3% | 22.91 | 20.5% | 13.2 | 0.38 | 0.39 |
Households Appliances | House | 6.65 | 20.9% | 12.05 | 5.04 | 0.35 | 0.34 | ||
Households Appliances | House (>100EUR) | 10.4% | 7.02 | 21.1% | 58.85 | 30.42 | 0.78 | 1.31 | |
Households Appliances | Kitchen | 7.06 | 35.5% | 64.32 | 18.4% | 35.05 | 0.78 | 0.91 | |
Households Appliances | Beauty | 13.1% | 5.51 | 31.8% | 17.24 | 10.1 | 0.51 | 0.5 | |
Electronics and Computer Hardware | Accessories | 10.7% | 10.05 | 31.6% | 14.98 | 19.5% | 9.78 | 0.51 | 0.5 |
Electronics and Computer Hardware | Laptops and PCs | 8.67 | 28.8% | 162.74 | 16.3% | 94.61 | 0.55 | 0.84 | |
Electronics and Computer Hardware | Monitors | 9.18 | 20.6% | 39.54 | 11.5% | 19.81 | 0.95 | 1.46 | |
Electronics and Computer Hardware | Tablets and E-readers | 7.36 | 24.1% | 73.57 | 14.0% | 43.34 | 0.55 | 0.59 | |
Electronics and Computer Hardware | Consoles | 10.09 | 24.0% | 67.89 | 32.18 | ||||
Computer Games and Software | Software | 9.11 | 32.4% | 87.89 | 18.6% | 55.35 | 0.7 | 0.81 | |
Computer Games and Software | PC games | 12.3% | 7.46 | 35.5% | 13.29 | 21.4% | 8.09 | 0.39 | 0.36 |
Computer Games and Software | Console games | 10.7% | 7.44 | 31.7% | 14.74 | 18.2% | 8.5 | 0.26 | 0.25 |
11,2% | 8.93 | 29.8% | 16.2% | 0.55 | 0,66 |
Category | Subcategory | Average absolute price dispersion | Average # of observation per product | Quantité coefficient of dispersion (0.9-0.1) | Quantité price dispersion (0.9-0.1) [EUR] | Quantité coefficient of dispersion (0.75-0.25) | Quantile price dispersion (0.75-0.25) [EUR] | Coefficient of variation (mean) | Coefficient of variation (median) |
---|---|---|---|---|---|---|---|---|---|
Fashion | Clothing | 14.50% | 9.83 | 39.53% | 21.66 | 20.38% | 10.55 | 0.36 | 0,34 |
Fashion | Footwear | 12.28% | 12.34 | 31.35% | 22.06 | 17.76% | 12.36 | 0.26 | 0,27 |
Fashion | Accessories | 9.85% | 7.92 | 24.60% | 15.62 | 13.45% | 8.90 | 0.52 | 0,47 |
Cosmetics & Healthcare | Cosmetics | 12.51% | 12.86 | 34.11% | 9.26 | 18.51% | 3.70 | 1.17 | 1,49 |
Cosmetics & Healthcare | Perfumes | 12.46% | 12.57 | 35.35% | 17.41 | 18.93% | 8.99 | 0.37 | 0,38 |
Households Appliances | House | 10.96% | 6.38 | 25.05% | 14.66 | 12.19% | 7.90 | 0.42 | 0,39 |
Households Appliances | House (>100EUR) | 8.83% | 7.42 | 22.49% | 52.58 | 13.12% | 29.11 | 0.74 | 1,22 |
Households Appliances | Kitchen | 11.58% | 6.96 | 35.26% | 52.13 | 19.79% | 30.31 | 0.75 | 0,83 |
Households Appliances | Beauty | 13.18% | 5.61 | 33.12% | 14.14 | 18.07% | 7.91 | 0.50 | 0,49 |
Electronics and Computer Hardware | Accessories | 10.38% | 9.98 | 29.74% | 11.47 | 18.55% | 7.33 | 0.50 | 0,49 |
Electronics and Computer Hardware | Laptops and PCs | 11.50% | 8.67 | 28.34% | 129.80 | 16.13% | 77.04 | 0.55 | 0,84 |
Electronics and Computer Hardware | Monitors | 7.69% | 9.18 | 20.01% | 29.64 | 10.79% | 16.84 | 0.96 | 1,47 |
Electronics and Computer Hardware | Tablets and E-readers | 9.93% | 7.33 | 28.01% | 67.71 | 13.59% | 32.39 | 0.55 | 0,60 |
Electronics and Computer Hardware | Consoles | 10.08% | 10.07 | 25.05% | 55.15 | 12.73% | 28.22 | 0.41 | 0,40 |
Computer Games and Software | Software | 11.74% | 9.14 | 32.08% | 67.40 | 17.00% | 40.06 | 0.68 | 0,78 |
Computer Games and Software | PC games | 12.63% | 7.52 | 36.46% | 10.63 | 21.04% | 6.05 | 0.38 | 0,35 |
Computer Games and Software | Console games | 11.04% | 7.46 | 33.45% | 12.04 | 19.06% | 6.76 | 0.27 | 0,26 |
11,2% | 8.90 | 30.24% | 16.53% | 0.55 | 0.65 |