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来源类型Working Paper
规范类型报告
DOI10.3386/w12894
来源IDWorking 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
URLhttps://www.nber.org/papers/w12894
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/570560
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Ali Hortacsu,Chad Syverson. Cementing Relationships: Vertical Integration, Foreclosure, Productivity, and Prices. 2007.
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