The Effect of the Repsol-YPF Merger on the Argentine Gasoline Market

The Effect of the Repsol-YPF Merger on the Argentine Gasoline Market This paper presents alternative models of oligopoly behaviorfor the Argentine gasoline market and applies parametric estimations to analyze the effect that the Repsol-YPFmerger had on that market. Using monthly data for the different provinces of Argentina during 1998–2000,we make an evaluation of that effect. After performing a series of nested and non-nested hypothesis tests, weconclude that we cannot reject the hypothesis that the market was a Cournot oligopoly before the merger,and after that it became one with a price leader (Repsol-YPF). This implies an efficiency loss estimatedin more than $36 million per month. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Review of Industrial Organization Springer Journals

The Effect of the Repsol-YPF Merger on the Argentine Gasoline Market

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Publisher
Springer Journals
Copyright
Copyright © 2002 by Kluwer Academic Publishers
Subject
Economics; Industrial Organization; Microeconomics
ISSN
0889-938X
eISSN
1573-7160
D.O.I.
10.1023/A:1021122815423
Publisher site
See Article on Publisher Site

Abstract

This paper presents alternative models of oligopoly behaviorfor the Argentine gasoline market and applies parametric estimations to analyze the effect that the Repsol-YPFmerger had on that market. Using monthly data for the different provinces of Argentina during 1998–2000,we make an evaluation of that effect. After performing a series of nested and non-nested hypothesis tests, weconclude that we cannot reject the hypothesis that the market was a Cournot oligopoly before the merger,and after that it became one with a price leader (Repsol-YPF). This implies an efficiency loss estimatedin more than $36 million per month.

Journal

Review of Industrial OrganizationSpringer Journals

Published: Oct 13, 2004

References

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