Does Concentration Matter? Measurement of Petroleum Merger Price Effects
We 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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Volume (Year): 101 (2011)
Issue (Month): 3 (May)
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- Unknown & Dennis Carlton, 2009.
"Why We Need to Measure the Effect of Merger Policy and How to Do It,"
Competition Policy International, vol. 5.
- Dennis W. Carlton, 2009. "Why We Need to Measure the Effect of Merger Policy and How to Do It," NBER Working Papers 14719, National Bureau of Economic Research, Inc.
- 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. Full references (including those not matched with items on IDEAS)