BazEkon - Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie

BazEkon home page

Meny główne

Autor
Bejger Sylwester (Nicolaus Copernicus University in Toruń, Poland)
Tytuł
Screening for Collusion: Evidences from the Indian Cement Industry
Źródło
Business and Economic Horizons, 2015, vol. 11, iss. 2, s. 96-114, rys., tab., bibliogr. 50 poz.
Słowa kluczowe
Cement, Materiały budowlane, Zmowa, Kartel
Cement, Building materials, Collusion, Cartel
Uwagi
summ.
Kraj/Region
Indie
India
Abstrakt
The paper is devoted to evaluation of the econometric method applied as a part of a variance screen in collusion detection procedure. Validation is based on ex-post analysis of Indian cement industry in the 1994 - 2009 time period and comparative study of the obtained results with factual evidences of collusion at that market. The method in question is based on MS(M)AR (p, q) Markov switching model specification. As a result of the research we could identify variability regimes consistent with theoretical motivation of the marker and detect collusion and competition phases partly consistent with historical evidences. However promising, method had some drawbacks applied to high frequency data in the context of variance screen. We proposed some solutions for further research to overcome it.(original abstract)
Pełny tekst
Pokaż
Bibliografia
Pokaż
  1. Buccirossi P. (Ed.), 2008. Handbook of antitrust economics, The MIT Press
  2. Lütkepohl H., Krätzig M. (Eds.), 2004. Applied time series econometrics, Cambridge University Press
  3. Silverman B.W., 1986. Density estimation for statistics and data analysis, London: Chapman & Hall
  4. Abrantes-Metz R., 2013. "Pro-active vs. reactive anti-cartel policy: the role of empirical screens", mimeo
  5. Abrantes-Metz R., Kraten M., Metz A.D., Seow G.S., 2012. "Libor manipulation?", Journal of Banking and Finance, 36, pp.136-150
  6. Abrantes-Metz R., Villas-Boas S.B., Judge G., 2011. "Tracking the libor rate", Applied Economics Letters, 18, pp.893-899
  7. Abrantes-Metz R., Froeb L., Geweke J., Taylor C., 2006. "A variance screen for collusion", International Journal of Industrial Organization, Vol. 24, pp.467-486
  8. Anand S., 2009. "Identifying cartels using economic evidence. A case study of Indian cement industry", Competition Commision of India, New Delhi
  9. Athey S., Bagwell K., Sanchirico C., 2004. "Collusion and price rigidity", Review of Economic Studies, Vol.71, pp.317-349
  10. Bajari P., Ye L., 2003. "Deciding between competition and collusion", Review of Economics and Statistics, Vol.85, pp.971-89
  11. Bejger, S., 2009. "Econometric tools for detection of collusion equilibrium in the industry", Dynamic Econometric Models, Vol.X, pp.34-45
  12. Bejger S., 2010. "Collusion and seasonality of market price - a case of fixed market shares", Business and Economic Horizons, Vol.2, pp.48-59
  13. Bejger S., Bruzda J., 2011. "Detection of collusion equilibrium in an industry with application of wavelet analysis", Dynamic Econometric Models, Vol.11, pp.171-184
  14. Bejger S., 2011. "Polish cement industry cartel - preliminary examination of collusion existence", Business and Economic Horizons, Vol.4, pp.88 - 107.
  15. Bejger S., 2012. "Cartel in the Indian cement industry: An attempt to identify it", Economics E- journal Discussion paper
  16. Blanckenburg K., Geist A., Kholodilin K.A., 2012. "The influence of collusion on price changes: New evidence from major cartel cases", German Economic Review, Vol.13(3), pp.245-56
  17. Blanckenburg K., Geist A., 2009. "How can a cartel be detected?", International Advances in Economic Research, Vol.15, pp.421-436
  18. Bolotova Y., Connor J.M., Miller D.J., 2008. "The impact of collusion on price behavior: Empirical results from two recent cases", International Journal of Industrial Organization, Vol. 26, pp.1290- 1307
  19. Cement Manufacturer Association Annual Report, 2010. Electronic document: http://www.cmaindia.org/portal/static/AnnualReport2009-10.pdf
  20. Connor J.M., 2005. "Collusion and price dispersion", Applied Econometric Letters, Vol.12, pp.335-38
  21. Connor J., Helmers G., 2006. "Statistics on modern private international cartels, 1990-2005", Dept. of Agricultural Economics, Purdue University, Working Paper No.06-11
  22. Davidson J., 2004. "Forecasting Markov-switching dynamic, conditionally heteroscedastic processes", Statistic and Probability Letters, 68(2), pp.137-147
  23. Consolidated versions of the Treaty on European Union and the Treaty on the Functioning of the European Union, Official Journal C 326, 26/10/2012, pp.0001-0390
  24. Guidelines on the applicability of Article 101 of the Treaty on the Functioning of the European Union to horizontal co-operation agreements - 2011/C 11/01, 2011, Official Journal of the European Union
  25. Esposito F.M., Ferrero M., 2006. "Variance Screens for Detecting Collusion: An Application to Two Cartel Cases in Italy", (mimeo)
  26. Hamilton J.D., 1989. "A new approach to the economic analysis of nonstationary time series and the business cycle", Econometrica, Vol.57, pp.357-384
  27. Hamilton J.D., Susmel, R., 1994. "Autoregressive conditional heteroscedasticity and changes in regime", Journal of Econometrics 64, 307-333
  28. Harrington J.E., 2008. "Detecting Cartels", in Handbook of Antitrust Economics, pp.213-258
  29. Harrington J.E., 2006. "Behavioral screening and the detection of cartels", in European Competition Annual 2006: Enforcement of Prohibition of Cartels, pp.51-68
  30. Hay, G., 2013. "Anti-competitive agreements: The meaning of "Agreement", Cornell Law Faculty Working Papers, Paper 105
  31. Hüschelrath R., 2010. "How are cartels detected? The increasing use of pro-active methods to establish antitrust infringements", Journal of European Competition Law & Practice, Vol.1, No.6
  32. Hüschelrath K., Veith T., 2014. "Cartel detection Decision Economics, Vol.35(6), pp.404-422
  33. Jacqemin A., Slade M.E., 1989. "Cartels, collusion and horizontal merger", in: Schmalensee R., Willig R.D., 1989. Handbook of Industrial Organization, Vol.II, Elsevier Science Publishers B.V.
  34. Jimenez J.L., Perdiguero J., 2011. "Could transport costs be lower? The use of a variance screen to evaluate competition in the petrol market in Spain", International Journal of Transport Economics, Vol.38 (3), pp.265-284
  35. MRTPC, 2001. electronic document: http://www.baionline.in/media/data/MRTP2.pdf.
  36. Kaplow L., 2011. "On the meaning of horizontal agreements in competition law", Harvard Law and Economics Discussion Paper No.691
  37. Krolzig H.M., 1998. "Econometric modelling of Markov-Switching vector autoregressions using MSVAR for Ox", Working paper
  38. Kim C.J., Nelson C.R., 1999. State-space models with regime switching, The MIT Press, London.
  39. Kufel T., 2010. Ekonometryczna analiza cykliczności procesóe gospodarczych o wysokiej częstotliwości obserwowania, Wydawnictwo UMK, Toruń
  40. Levenstein M., Suslow V., 2006. "What determines cartel success?", Journal of Economic Literature, 44(1), pp.43-95
  41. Lorenz C., 2008. "Screening markets for cartel detection: Collusive markers in the CFD cartel-audit", European Journal of Law and Economics, 26(2), 213-32
  42. Maskin E., Tirole J., 1988. "A theory of dynamic oligopoly II", Econometrica 56, 571-599
  43. Petit N., 2012. "The oligopoly problem in EU competition law". In: Liannos I. and Geradin D. (Eds.), Research Handbook in European Competition Law, Edward Elgar, September 2013
  44. Porter R.H., Zona J.D., 1999. "Ohio school milk markets: An analysis of bidding", RAND Journal of Economics, Vol.30, pp.263-88
  45. Posner R., 1969. "Oligopoly and the antitrust laws: A suggested approach", 21 Stanford Law Review
  46. Rotemberg J., Saloner G., 1990. "Collusive price leadership", The Journal of Industrial Economics, Vol.39, pp.93-111
  47. Russo F., Schinkel M.P., Gunster A., Carree M., 2010. European Commission decisions on competition. Economic perspectives on landmark antitrust and merger cases, Cambridge University Press, New York
  48. Tirole J., 1998. The theory of industrial organization, The MIT Press, England
  49. Vives X., 1999. Oligopoly pricing. Old ideas and new tools, The MIT Press, Cambridge MA
  50. U.S. DOJ, 2005. "An antitrust primer for federal law enforcement personnel", Antitrust Division U.S. Department of Justice, August 2003, Revised: April 2005
Cytowane przez
Pokaż
ISSN
1804-1205
Język
eng
URI / DOI
http://dx.doi.org/10.15208/beh.2015.08
Udostępnij na Facebooku Udostępnij na Twitterze Udostępnij na Google+ Udostępnij na Pinterest Udostępnij na LinkedIn Wyślij znajomemu