7月10日(木)小林 流基 氏 (慶應義塾大学) のセミナーを開催いたします。NEW
日時:7月10日(木)17:20-18:50
報告者: 小林 流基 (慶應義塾大学)
場所:2号館11階経済学部会議室B
幹事:長谷部 拓也
言語:日本語
タイトル:Market Power, Efficiency, and Upstream Effects: Disentangling Multiple Merger Effects on Retail Gasoline Price
要旨:his study examines the market power and efficiency effects of a merger on retail prices in an industry characterized by vertical relationships. As a case study, we analyze the largescale merger between vertically integrated petroleum firms in Japan. Leveraging geographical variation across local markets, we employ a difference-in-differences approach. The results suggest that the market power effect increased retail gasoline prices, while the efficiency effect did not lead to a significant price reduction. Moreover, the market power effect was more pronounced in markets with independent retailers, where the merging firm had both the incentive and the ability to adopt a raising rivals’ costs strategy. These findings suggest that vertical industry structures can exacerbate anti-competitive effects in downstream markets.