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Capacity Expansions timing patterns in the United Kingdom’s petroleum refining industry between 1948 and 1998

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  • Arrieta Paredes, Mary-Paz
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    Abstract

    We try to get a handle on whether capacity expansion timing patterns in oligopoly among incumbents are followed. We study the United Kingdom ´s petroleum refining industry between 1948 and 1998. Using fixed-effects logit models, we find that U.K.´s refiners have not followed any definite capacity expansion-timing pattern.

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    File URL: https://mpra.ub.uni-muenchen.de/32239/1/MPRA_paper_32239.pdf
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    File URL: https://mpra.ub.uni-muenchen.de/38456/1/MPRA_paper_38456.pdf
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    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 32239.

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    Date of creation: 14 Dec 2004
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    Handle: RePEc:pra:mprapa:32239
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    Keywords: Capacity expansion timing; Mobility deterrence;

    Find related papers by JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • L71 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Hydrocarbon Fuels

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    1. Ciaran Driver, 2000. "Capacity Utilisation and Excess Capacity: Theory, Evidence, and Policy," Review of Industrial Organization, Springer, vol. 16(1), pages 69-87, February.
    2. Dixit, Avinash, 1979. "The Role of Investment in Entry-Deterrence," The Warwick Economics Research Paper Series (TWERPS) 140, University of Warwick, Department of Economics.
    3. Koscianski, Janet & Mathis, Stephen, 1995. "Excess capacity and the probability of entry An application to the US titanium industry," Resources Policy, Elsevier, vol. 21(1), pages 43-51, March.
    4. Singh, Satwinder & Utton, Michael & Waterson, Michael, 1998. "Strategic behaviour of incumbent firms in the UK," International Journal of Industrial Organization, Elsevier, vol. 16(2), pages 229-251, March.
    5. Ghemawat, Pankaj, 1984. "Capacity Expansion in the Titanium Dioxide Industry," Journal of Industrial Economics, Wiley Blackwell, vol. 33(2), pages 145-63, December.
    6. Masson, Robert T & Shaanan, Joseph, 1986. "Excess Capacity and Limit Pricing: An Empirical Test," Economica, London School of Economics and Political Science, vol. 53(211), pages 365-78, August.
    7. Haskel, Jonathan & Martin, Christopher, 1994. "Capacity and Competition: Empirical Evidence on UK Panel Data," Journal of Industrial Economics, Wiley Blackwell, vol. 42(1), pages 23-44, March.
    8. Smiley, Robert, 1988. "Empirical evidence on strategic entry deterrence," International Journal of Industrial Organization, Elsevier, vol. 6(2), pages 167-180.
    9. Lieberman, Marvin B, 1987. "Excess Capacity as a Barrier to Entry: An Empirical Appraisal," Journal of Industrial Economics, Wiley Blackwell, vol. 35(4), pages 607-27, June.
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