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. Review of Industrial Organization Springer Journals

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

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Kluwer Academic Publishers
Copyright © 2002 by Kluwer Academic Publishers
Economics; Industrial Organization; Microeconomics
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