Hintahajonta

Hintahajonta, or price dispersion, is the phenomenon in which the prices of the same good or service vary across different sellers or markets, even when the product is identical in terms of quality. Price dispersion can occur within a single market and across channels, such as physical stores, online platforms, or regional outlets.

Several factors contribute to hintahajonta. Information frictions and search costs mean that buyers may not observe all prices or may not know where to find the lowest one. Menu costs, dynamic pricing, and retailer competition can create price differences over time or across outlets. Consumer heterogeneity, geographic distance, shipping costs, taxes, and channel-specific offers also contribute. In digital environments, price dispersion can persist despite easy price visibility due to personalized pricing, time-limited promotions, or differences in service bundles.

Measurement of price dispersion typically uses statistics such as the standard deviation, interquartile range, or the coefficient of variation of observed prices for the same good, across sellers or markets. A higher dispersion value indicates greater variation in prices; a dispersion of zero implies identical pricing.

The concept is studied in microeconomic theory and industrial organization. Classic models of search and information economics explain why price dispersion can arise even when goods are homogeneous and sellers have similar costs. Price dispersion has implications for consumer welfare, competition assessment, and policy. It may signal market frictions or strategic pricing, but it can also reflect consumer heterogeneity and differentiated purchasing contexts. Tools that improve price transparency and reduce search costs tend to reduce unwarranted hintahajonta in many markets.