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Title: Vertical relations and local competition : an empirical approach
Author: Perdiguero, Jordi
Keywords: Equilibri (Economia)
Indústria petroliera
Política de preus
Equilibrium (Economics)
Petroleum industry and trade
Prices policy
Issue Date: 2011
Publisher: Universitat de Barcelona. Institut de Recerca en Economia Aplicada Regional i Pública
Series/Report no: [WP E-IR11/24]
Abstract: 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.
Note: Reproducció del document publicat a:
It is part of: IREA – Working Papers, 2011, IR11/24
ISSN: 2014-1254
Appears in Collections:Documents de treball (Institut de Recerca en Economia Aplicada Regional i Pública (IREA))

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