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来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w12894 |
来源ID | Working Paper 12894 |
Cementing Relationships: Vertical Integration, Foreclosure, Productivity, and Prices | |
Ali Hortacsu; Chad Syverson | |
发表日期 | 2007-02-16 |
出版年 | 2007 |
语种 | 英语 |
摘要 | This paper empirically investigates the possible market power effects of vertical integration proposed in the theoretical literature on vertical foreclosure. It uses a rich data set of cement and ready-mixed concrete plants that spans several decades to perform a detailed case study. There is little evidence that foreclosure is quantitatively important in these industries. Instead, prices fall, quantities rise, and entry rates remain unchanged when markets become more integrated. These patterns are consistent, however, with an alternative efficiency-based mechanism. Namely, higher productivity producers are more likely to vertically integrate and are also larger, more likely to survive, and charge lower prices. We find evidence that integrated producers' productivity advantage is tied to improved logistics coordination afforded by large local concrete operations. Interestingly, this benefit is not due to firms' vertical structures per se: non-vertical firms with large local concrete operations have similarly high productivity levels. |
主题 | Microeconomics ; Households and Firms ; Market Structure and Distribution ; Industrial Organization ; Market Structure and Firm Performance ; Firm Behavior ; Antitrust |
URL | https://www.nber.org/papers/w12894 |
来源智库 | National Bureau of Economic Research (United States) |
引用统计 | |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/570560 |
推荐引用方式 GB/T 7714 | Ali Hortacsu,Chad Syverson. Cementing Relationships: Vertical Integration, Foreclosure, Productivity, and Prices. 2007. |
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文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
w12894.pdf(401KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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