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American Economic Review: Vol. 100 No. 3 (June 2010)

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Vertical Relationships and Competition in Retail Gasoline Markets: Empirical Evidence from Contract Changes in Southern California: Comment

Article Citation

Taylor, Christopher T., Nicholas M. Kreisle, and Paul R. Zimmerman. 2010. "Vertical Relationships and Competition in Retail Gasoline Markets: Empirical Evidence from Contract Changes in Southern California: Comment." American Economic Review, 100(3): 1269-76.

DOI: 10.1257/aer.100.3.1269

Abstract

In a paper in the March 2004 AER, Justine Hastings concludes that the acquisition of an independent gasoline retailer, Thrifty, by a vertically integrated firm, ARCO, is associated with sizable price increases at competing stations. To better understand the mechanism to which she attributes this effect -- which combines vertical integration and rebranding -- we attempted but ultimately failed to reproduce the results using alternative data.

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Authors

Taylor, Christopher T. (US Federal Trade Commission)
Kreisle, Nicholas M. (US Federal Trade Commission)
Zimmerman, Paul R. (US Federal Trade Commission)

JEL Classifications

L13: Oligopoly and Other Imperfect Markets
L22: Firm Organization and Market Structure
L42: Vertical Restraints; Resale Price Maintenance; Quantity Discounts
L71: Mining, Extraction, and Refining: Hydrocarbon Fuels
L81: Retail and Wholesale Trade; e-Commerce


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