Does multimarket contact affect prices in the retail fuel industry? First empirical evidence
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Título
Does multimarket contact affect prices in the retail fuel industry? First empirical evidenceFecha de publicación
2020-12-09Editor
ElsevierISSN
0140-9883Cita bibliográfica
BALAGUER, Jacint; RIPOLLÉS, Jordi. Does multimarket contact affect prices in the retail fuel industry? First empirical evidence. Energy Economics, 2021, vol. 93, p. 105054.Tipo de documento
info:eu-repo/semantics/articleVersión de la editorial
https://www.sciencedirect.com/journal/energy-economicsVersión
info:eu-repo/semantics/acceptedVersionPalabras clave / Materias
Resumen
Although multimarket competition is a fairly common characteristic in the retail fuel industry, its effect on the corresponding prices remains unexplored. By using a large dataset of service stations in Spain, a first ... [+]
Although multimarket competition is a fairly common characteristic in the retail fuel industry, its effect on the corresponding prices remains unexplored. By using a large dataset of service stations in Spain, a first set of empirical results for this industry is provided. It is consistently found that multimarket contact among chain stations increases prices, which adds support to the classical mutual forbearance hypothesis. However, it is further revealed that such an effect is critically dependent on the degree of concentration of each local market. Since the impact becomes more relevant in markets where concentration is lower, it also seems advisable to closely monitor these cases. Findings also suggest that, in those models where multimarket contact information is ignored, the specific effect of local concentration on prices could be significantly underestimated. [-]
Publicado en
Energy Economics Volume 93, January 2021, 105054Datos relacionados
https://ars.els-cdn.com/content/image/1-s2.0-S0140988320303947-mmc1.zipEntidad financiadora
Ministerio de Ciencia, Innovación y Universidades (Spain) | Universitat Jaume I
Código del proyecto o subvención
RTI2018-100983-B-I00 | UJI-B2019-53
Derechos de acceso
© 2020 Elsevier B.V. All rights reserved.
info:eu-repo/semantics/openAccess
info:eu-repo/semantics/openAccess
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