Does Concentration Matter? Measurement of Petroleum Merger Price Effects
AbstractWe have estimated the price effects of two changes in market structure resulting from two changes in the ownership of gasoline refineries in the San Francisco Bay area: Tosco's purchase of Unocal's Rodeo refinery in April 1997 and UDS's purchase of Tosco's Avon refinery in August 2000. These events provide a relatively unique opportunity to test a price concentration relationship. If market concentration is related to price, then we should observe prices increase and then decrease by a similar amount following these transactions. We do not find evidence of a consistent price concentration relationship.
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Bibliographic InfoArticle provided by American Economic Association in its journal American Economic Review.
Volume (Year): 101 (2011)
Issue (Month): 3 (May)
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- Christopher Taylor & Jeffrey Fischer, 2003. "A Review of West Coast Gasoline Pricing and the Impact of Regulations," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 10(2), pages 225-243.
- Brito, Duarte & Pereira, Pedro & Ramalho, Joaquim J.S., 2013.
"Mergers, coordinated effects and efficiency in the Portuguese non-life insurance industry,"
International Journal of Industrial Organization,
Elsevier, vol. 31(5), pages 554-568.
- Duarte Brito & Pedro Pereira & Joaquim Ramalho, 2013. "Mergers, Coordinated Effects and Efficiency in the Portuguese Non-Life Insurance Industry," CEFAGE-UE Working Papers 2013_18, University of Evora, CEFAGE-UE (Portugal).
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