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Vertical relations and local competition: an empirical approach

Listed author(s):
  • Jordi Perdiguero

    ()

    (Faculty of Economics, University of Barcelona)

The analysis of vertical industry relations forms an essential element in the field of industrial organization. This paper tests hypotheses derived from transaction cost theory and the principal-agent problem in Chile’s petrol market. It shows that local competition plays an important role in the choice of a “disintegrated” vertical structure, and that low levels of service investment have the same effect. Conversely, the number of own-brand outlets and a high level of investment in services reduce the probability of disintegration. The paper demonstrates that vertical disintegration has a null effect on wholesale petrol prices and a positive effect on retail petrol prices of between 1.6 and 7 per cent, depending on fuel type.

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File URL: http://www.ub.edu/irea/working_papers/2011/201124.pdf
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Paper provided by University of Barcelona, Research Institute of Applied Economics in its series IREA Working Papers with number 201124.

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Length: 35 pages
Date of creation: Dec 2011
Date of revision: Dec 2011
Handle: RePEc:ira:wpaper:201124
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