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Measuring Market Power in a Spatial Context
ARTURO LEONARDO L. VASQUEZ CORDANOJosé AurazoPedro Rojas
其他書名
Evidence from the Retail Vehicular Natural Gas Market of Lima, Peru
出版SSRN, 2023
URLhttp://books.google.com.hk/books?id=jSb9zwEACAAJ&hl=&source=gbs_api
註釋We use a generalized spatial competition model to assess market power in the retail market of Vehicular Natural Gas (VNG) of Lima, Peru. This model nests Loschian, Hotelling-Smithies, and Greenhut-Ohta models through a single coefficient, the spatial conjectural variation parameter. Our database contains information on retail VNG prices, sold VNG quantities, and other characteristics of 34 counties in Metropolitan Lima from 2011 to 2015. Using a GMM approach, we find evidence of some degree of spatial market power. This result is consistent with the Peruvian Antitrust Authority verdict in 2019 that determined the presence of collusive prices in this market.