| The Economic Effects of the Marathon - Ashland Joint Venture: The Importance of Industry Supply Shocks and Vertical Market Structure Contributor(s): Federal Trade Commission (Author) |
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ISBN: 1502524147 ISBN-13: 9781502524140 Publisher: Createspace Independent Publishing Platform OUR PRICE: $12.30 Product Type: Paperback Published: September 2014 |
| Additional Information |
| BISAC Categories: - Business & Economics |
| Physical Information: 0.11" H x 8.5" W x 11.02" (0.32 lbs) 52 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: This book measures the retail and wholesale price effects in Louisville, Kentucky resulting from the Marathon/Ashland (MAP) joint venture. MAP was an early transaction in the recent era of petroleum mergers and it caused sizeable changes in concentration. We find no evidence of increased retail prices resulting from MAP. Wholesale (rack) prices increased significantly approximately 15 months following the transaction. This wholesale price (rack) increase, however, was probably caused by a regional supply shock rather than the transaction. These results suggest in this case that a significant petroleum merger in a moderately concentrated market did not raise consumer prices. |