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Assessing The Competition Faced By Oil Pipelines

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  • DAVID J. TEECE

Abstract

This paper assesses the competition faced by oil pipelines. It also uses a new procedure and new data to test whether oil pipeline markets are competitive or monopolistic, under standard definitions. The key innovation of the paper is a new approach to the definition of the relevant market(s) in which oil pipelines operate. While recognizing that pipeline monopsony also could be a problem under certain conditions, the paper argues that these conditions are unlikely to arise and that if they do, it is unclear whether pipeline owners would be in a position to exploit them. The study offers new evidence to fuel the 80‐year‐old debate over pipeline rates and regulation.

Suggested Citation

  • David J. Teece, 1986. "Assessing The Competition Faced By Oil Pipelines," Contemporary Economic Policy, Western Economic Association International, vol. 4(4), pages 65-78, October.
    • Handle: RePEc:bla:coecpo:v:4:y:1986:i:4:p:65-78
    DOI: 10.1111/j.1465-7287.1986.tb00858.x
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    References listed on IDEAS

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    1. Baumol, William J, 1982. "Contestable Markets: An Uprising in the Theory of Industry Structure," American Economic Review, American Economic Association, vol. 72(1), pages 1-15, March.
    2. Don Coursey & R. Mark Isaac & Margaret Luke & Vernon L. Smith, 1984. "Market Contestability in the Presence of Sunk (Entry) Costs," RAND Journal of Economics, The RAND Corporation, vol. 15(1), pages 69-84, Spring.
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    Cited by:

    1. J. Rodney Lemon, 1986. "Regulatory Reform Of Interstate Natural Gas Pipelines," Contemporary Economic Policy, Western Economic Association International, vol. 4(4), pages 93-103, October.

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