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Vertical Integration and Communication

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  • Kenneth J. Arrow

Abstract

Among the many possible motives for vertical integration, the one emphasized here is uncertainty in the supply of the upstream good and the consequent need for information by downstream firms. The basic conclusion is that, even when the initial conditions are of the type usually thought of as competitive, the upshot will be a tendency to imperfect competition.

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Bibliographic Info

Article provided by The RAND Corporation in its journal Bell Journal of Economics.

Volume (Year): 6 (1975)
Issue (Month): 1 (Spring)
Pages: 173-183

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Handle: RePEc:rje:bellje:v:6:y:1975:i:spring:p:173-183

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Citations

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Cited by:
  1. Bengt Holmstrom & John Roberts, 1998. "The Boundaries of the Firm Revisited," Journal of Economic Perspectives, American Economic Association, vol. 12(4), pages 73-94, Fall.
  2. Chemla, Gilles & Porchet, Arnaud & Touzi, Nizar & Aïd, René, 2009. "Forward Hedging and Vertical Integration in Electricity Markets," Economics Papers from University Paris Dauphine 123456789/6395, Paris Dauphine University.
  3. Graziano, Clara, 1995. "Cost observability and renegotiation," Journal of Economic Behavior & Organization, Elsevier, vol. 28(3), pages 359-372, December.
  4. Oliver Hart & Sanford Grossman, 1985. "The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration," Working papers 372, Massachusetts Institute of Technology (MIT), Department of Economics.
  5. David A. HENNESSY, 1997. "Information Asymmetry As A Reason For Vertical Integration," Department of Resource Economics Regional Research Project 963, University of Massachusetts.
  6. Chemla, Gilles & Porchet, Arnaud & Aïd, René & Touzi, Nizar, 2011. "Hedging and vertical integration in electricity markets," Economics Papers from University Paris Dauphine 123456789/11029, Paris Dauphine University.
  7. Timothy F. Bresnahan & Jonathan D. Levin, 2012. "Vertical Integration and Market Structure," NBER Working Papers 17889, National Bureau of Economic Research, Inc.
  8. Choi, Jay Pil, 1998. "Information concealment in the theory of vertical integration," Journal of Economic Behavior & Organization, Elsevier, vol. 35(1), pages 117-131, March.
  9. Schmitz, Patrick W., 2005. "Information Gathering, Transaction Costs and the Property Rights Approach," CEPR Discussion Papers 5417, C.E.P.R. Discussion Papers.
  10. S. Nuri Erbas, 2004. "Ambiguity, Transparency, and Institutional Strength," IMF Working Papers 04/115, International Monetary Fund.
  11. Elizabeth J. Altman & Frank Nagle & Michael L. Tushman, 2013. "Innovating without Information Constraints: Organizations, Communities, and Innovation When Information Costs Approach Zero," Harvard Business School Working Papers 14-043, Harvard Business School.
  12. Thomsen, Steen & Pedersen, Torben, 1998. "Industry and ownership structure," International Review of Law and Economics, Elsevier, vol. 18(4), pages 385-402, December.
  13. Jochen Streb, 1999. "How to Win Schumpeterian Competition: Technological Transfers in the German Plastics Industry from the 1930s to the 1970s," Working Papers 811, Economic Growth Center, Yale University.
  14. Wandel, Jürgen, 2011. "Integrierte Strukturen im Agrar- und Ernährungssektor Russlands: Entstehungsgründe, Funktionsweise, Entwicklungsperspektiven und volkswirtschaftliche Auswirkungen. Band I und II," Studies on the Agricultural and Food Sector in Central and Eastern Europe, Leib­niz Institute of Agricultural Development in Central and Eastern Europe (IAMO), volume 63, number 63.
  15. Li, Yanfei & Yao, Shuntian & Chia, Wai-Mun, 2009. "Endogenous Firm and Information Rent Under Demand Uncertainty," MPRA Paper 13506, University Library of Munich, Germany, revised 16 Feb 2009.
  16. Davide Vannoni, 1994. "Perche' Le Matrici Intersettoriali Per Misurare L'Integrazione Verticale ?," CERIS Working Paper 199403, Institute for Economic Research on Firms and Growth - Moncalieri (TO).
  17. Chiara Pederzoli & Grid Thoma & Costanza Torricelli, 2013. "Modelling Credit Risk for Innovative SMEs: the Role of Innovation Measures," Journal of Financial Services Research, Springer, vol. 44(1), pages 111-129, August.

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