Evidencia Empírica De Poder De Mercado En Industrias Minoristas De Gas Natural Vehicular (Empirical Evidence of Market Power in Natural Gas Vehicle Minority Industries)

26 Pages Posted: 28 Feb 2014

See all articles by John Garcia

John Garcia

Universidad EAFIT - School of Economics and Finance - Center for Research in Economic & Finance (CIEF)

Carlos Montenegro

Independent

Hermilson Velasquez

Universidad EAFIT - School of Economics and Finance - Center for Research in Economic & Finance (CIEF)

Date Written: May 8, 2012

Abstract

Spanish Abstract: La alta concentración del mercado minorista de Gas Natural Vehicular - GNV en Colombia permite el ejercicio de poder de mercado. El mecanismo de fijación de precio de venta en las Estaciones de Servicio - EDS’s se asemeja al de un modelo teórico oligopólico de Franja Cuasi-Competitiva, en el cual se identifica una empresa líder en el mercado y otras seguidoras, tomadoras de precio. Mediante el índice Herfindahl-Hirschman (HHI) se encontró alto nivel de concentración en la industria y por medio del índice de Lerner se halla el mark-up de beneficios que evidencia el ejercicio de poder de mercado. Además a través de un modelo de Panel de Datos se identifican los determinantes de la formación del precio en esta industria.

English Abstract: The retail market of Natural Gas Vehicle - NGV in Colombia is highly concentrated. The gas stations in this sector can exercise market power. The pricing mechanism in this industry is similar to an oligopolistic model of a dominant firm, Bertrand, competition in prices. Using the Herfindahl Hirschman Index (HHI) we found a high level of concentration in the gas vehicle industry and analyzing the mark-up of benefits our results suggest that the firms take advantage of their market power. Finally, using a panel data exercise we identify the price determinants for this industry.

Note: Downloadable document is in Spanish

Keywords: Gas Natural Vehicular, GNV, Mark-up de Beneficios, Mercado Minorista, Poder de Mercado, Estaciones de Servicio, EDS’s y Datos de Panel

JEL Classification: D43, C23

Suggested Citation

Garcia, John and Montenegro, Carlos and Velasquez, Hermilson, Evidencia Empírica De Poder De Mercado En Industrias Minoristas De Gas Natural Vehicular (Empirical Evidence of Market Power in Natural Gas Vehicle Minority Industries) (May 8, 2012). Center for Research in Economics and Finance (CIEF), Working Papers, No. 12-4. Available at SSRN: https://ssrn.com/abstract=2401996 or http://dx.doi.org/10.2139/ssrn.2401996

John Garcia (Contact Author)

Universidad EAFIT - School of Economics and Finance - Center for Research in Economic & Finance (CIEF) ( email )

Carrera 49 No. 7 South - 50
Bogotá
Colombia

Carlos Montenegro

Independent ( email )

Hermilson Velasquez

Universidad EAFIT - School of Economics and Finance - Center for Research in Economic & Finance (CIEF) ( email )

Carrera 49 No. 7 South - 50
Bogotá
Colombia

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