Capacity Expansions timing patterns in the United Kingdom’s petroleum refining industry between 1948 and 1998

Arrieta Paredes, Mary-Paz (2004): Capacity Expansions timing patterns in the United Kingdom’s petroleum refining industry between 1948 and 1998. Unpublished.

Abstract

We try to get a handle on whether capacity expansion timing patterns in oligopoly among incumbents are followed. We study the United Kingdom ´s petroleum refining industry between 1948 and 1998. Using fixed-effects logit models, we find that U.K.´s refiners have not followed any definite capacity expansion-timing pattern.

• Item Type: MPRA Paper
• Language: English
• Keywords: Capacity expansion timing; Mobility deterrence
• Subjects: L - Industrial Organization > L1 - Market Structure, Firm Strategy, and Market Performance > L11 - Production, Pricing, and Market Structure; Size Distribution of Firms; L - Industrial Organization > L1 - Market Structure, Firm Strategy, and Market Performance > L13 - Oligopoly and Other Imperfect Markets; L - Industrial Organization > L7 - Industry Studies: Primary Products and Construction > L71 - Mining, Extraction, and Refining: Hydrocarbon Fuels

References

REFERENCES

Dixit, A., (March-1980), “The role of investment in entry deterrence”, The Economic Journal, vol. 90, pp. 95-106.

Driver, C., (2000), “Capacity utilisation and excess capacity: Theory, evidence and policy”, Review of Industrial Organisation, Nº 16, pp.69-87.

Duetsch, L.,(June 1984), “Entry and the extend of multi-plant operations”, The Journal of Industrial Economics, Vol. XXXII, Nº4, pp.477-487.

Ghemawat, P., (December 1984), “Capacity expansion in the titanium dioxide industry”, The Journal of Industrial Economics, Vol. XXXIII, pp.145-163.

Gilbert, R. and M. Lieberman, (spring 1987), “Investment and co-ordination in oligopolistic industries”, Rand Journal of Economics, Vol. 18 Nº 1, pp. 17-31.

Haskel, J.and C. Martin, (March 1994), “Capacity and competition: Empirical evidence on U.K. panel data”, The Journal of Industrial Economics, Vol. XLII, Nº1, pp. 23-44.

Lieberman, M., (June 1987), “Excess capacity as a barrier to entry”, The Journal of Industrial Economics, Vol. XXXV, Nº4, pp.607-625.

Lieberman, M., (winter 1987), “Post-entry investment and market structure in the chemical processing industries”, Rand Journal of Economics, Vol.18 Nº 4, pp. 533-549.

Koscianski J. and S. Mathis, (March 1995), “Excess capacity and the probability of entry”, Resource Policy, Vol. 21, Nº1, pp.43-51.

Koscianski J. and S. Mathis, (1996), “Excess capacity as a barrier to entry in the US titanium industry”, International Journal of Industrial Organisation, Nº 15, pp.263-281.

Masson, R. and J. Shaanan, (August 1986),” Excess capacity and limit pricing an empirical test”, Economica, Nº 53, pp. 365-378.

Singh, S., M. Utton and M. Waterson, (1998), “Strategic behaviour on incumbent firms in the U.K.”, International Journal of Industrial Organisation, Nº16, pp.229-251.

Smiley, R., (1988), “Empirical evidence on strategic entry deterrence”, International Journal of Industrial Organisation, Nº 6, pp.167-180.

The Department of Trade an Industry, (1948-2000), “Digest of the United Kingdom Energy Statistics”.