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Collusive upward gasoline price movements in medium-sized German cities

机译:德国中型城市的汽油价格上涨

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摘要

Do we have effective competition between the gasoline's big five oligopolists (Aral, Shell, Esso, Total and Jet) and fringe gasoline stations? Using 2014 Market Transparency price data from 66 cities with populations between 60,000 and 100,000, we analyze which brands lead price increases, the first average price mark-up in the evening, and the trend on price increases until midnight. Furthermore, we measure the response time it takes for competitors to react to these price increases, and how much prices change from the beginning to the end of a day. By watching local activities of the big brands, it is possible to measure how smaller businesses, such as Jet or independent retailers, react to Aral's and Shell's price changes. Multivariate estimations allows to control for gasoline type (regular or diesel), school holidays, weekends, weekdays, location -such as East or West Germany-, wholesale and starting prices. Descriptive results show the typical patterns. Aral (or Shell) will start a price increase round, and then Shell (or Aral) will more or less immediately follow. Total, Esso and Non-Oligopolists react within one or two hours. Jet behaves more as an "outsider" with later reaction times and lower price mark-ups. Multivariate estimation indicates that the single cause "price change by competitors" is less important and nearly irrelevant for Jet.
机译:汽油的五个大寡头(咸,壳牌,埃索,道达尔和喷气)和边缘加油站之间是否存在有效的竞争?使用来自66个人口在60,000到100,000之间的城市的2014年市场透明度价格数据,我们分析了哪些品牌导致价格上涨,晚上首次平均提价以及直到午夜的价格上涨趋势。此外,我们测量竞争对手对这些价格上涨做出反应所需的响应时间,以及从一天开始到一天结束之间价格发生了多少变化。通过观察大品牌在当地的活动,可以衡量诸如Jet或独立零售商之类的小型企业如何应对Aral和Shell的价格变化。多变量估计可以控制汽油类型(常规或柴油),学校假期,周末,工作日,位置(例如东德或西德),批发价和起价。描述性结果显示了典型的模式。 Aral(或Shell)将开始涨价,然后Shell(或Aral)或多或少立即跟进。 Total,Esso和Non-Oligopolists会在一两个小时内发生反应。 Jet表现得更像一个“局外人”,反应时间更晚,价格也更低。多变量估计表明,“竞争对手的价格变动”的单一原因不太重要,与Jet几乎无关。

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  • 作者

    Neukirch Arne; Wein Thomas;

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  • 年度 2016
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  • 原文格式 PDF
  • 正文语种 eng
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