IDEAS home Printed from https://ideas.repec.org/a/bla/coecpo/v3y1985i3p105-118.html
   My bibliography  Save this article

Competition In Controlled And Uncontrolled Gasoline Markets

Author

Listed:
  • T. CRAWFORD HONEYCUTT

Abstract

During the decade ending in 1981, more than 100,000 gasoline dealers exited the industry. This tremendous decline gave rise to numerous allegations that the major oil companies were engaged in anticompetitive activity designed to eliminate their dealers. This paper examines the legislative responses to these allegations, discusses some current economic issues, reviews changes in gasoline marketing before and after decontrol, and evaluates empirically the impact of these events on competition. The primary conclusions of the paper are (1) that these changes in gasoline marketing have resulted from competitive responses to changing market conditions, (2) that most statutes proposed to aid dealers in fact make their demise more likely, (3) that dealers' share of sales has stabilized after decontrol, and (4) that divorcement tends to increase market concentration significantly.

Suggested Citation

  • T. Crawford Honeycutt, 1985. "Competition In Controlled And Uncontrolled Gasoline Markets," Contemporary Economic Policy, Western Economic Association International, vol. 3(3), pages 105-118, March.
    • Handle: RePEc:bla:coecpo:v:3:y:1985:i:3:p:105-118
    DOI: 10.1111/j.1465-7287.1985.tb00812.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1465-7287.1985.tb00812.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1465-7287.1985.tb00812.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Cheung, Steven N S, 1969. "Transaction Costs, Risk Aversion, and the Choice of Contractual Arrangements," Journal of Law and Economics, University of Chicago Press, vol. 12(1), pages 23-42, April.
    2. Yoram Barzel, 1997. "Measurement Cost and the Organization of Markets," Chapters, in: Svetozar Pejovich (ed.), The Economic Foundations of Property Rights, chapter 13, pages 171-192, Edward Elgar Publishing.
    3. Baumol, William J, 1982. "Contestable Markets: An Uprising in the Theory of Industry Structure," American Economic Review, American Economic Association, vol. 72(1), pages 1-15, March.
    4. Robert Fenili, 1985. "The Impact Of Decontrol On Gasoline Wholesalers And Retailers," Contemporary Economic Policy, Western Economic Association International, vol. 3(3), pages 119-130, March.
    5. Demsetz, Harold, 1983. "The Structure of Ownership and the Theory of the Firm," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 375-390, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kamath Shyam J., 1994. "Privatization: A Market Prospect Perspective," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 5(1), pages 53-104, March.
    2. Coggan, Anthea & Whitten, Stuart M. & Bennett, Jeff, 2010. "Influences of transaction costs in environmental policy," Ecological Economics, Elsevier, vol. 69(9), pages 1777-1784, July.
    3. Jürgen Wandel, 2011. "Business groups and competition in post-Soviet transition economies: The case of Russian “agroholdings”," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 24(4), pages 403-450, December.
    4. Kirsten Foss & Nicolai Foss, 2001. "Assets, Attributes and Ownership," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 8(1), pages 19-37.
    5. Anastassios Karayiannis & Aristides Hatzis, 2012. "Morality, social norms and the rule of law as transaction cost-saving devices: the case of ancient Athens," European Journal of Law and Economics, Springer, vol. 33(3), pages 621-643, June.
    6. Vahabi,Mehrdad, 2019. "The Political Economy of Predation," Cambridge Books, Cambridge University Press, number 9781107591370.
    7. Geoffrey Black, 2002. "A transaction cost model of contract choice: The case of petroleum exploration," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 8(3), pages 235-247, August.
    8. Peter Gorringe, 1987. "The Economic Institutions of Capitalism: Firms, Markets and Relational Contracting by Oliver E. Williamson," Australian Journal of Management, Australian School of Business, vol. 12(1), pages 125-143, June.
    9. Savitski, David W., 2003. "Ownership selection in the US electric utility industry," Utilities Policy, Elsevier, vol. 11(4), pages 203-223, December.
    10. Tarik AKIN & Abbas MIRAKHOR, 2016. "Efficiency with Rule-Compliance: A Contribution to the Theory of the Firm in Islamic Economics," Journal of Economics and Political Economy, KSP Journals, vol. 3(3), pages 560-574, September.
    11. Geoffrey Black, 2000. "The incentive effect in share contracts: The case of finite resources," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 6(3), pages 461-474, August.
    12. Jean-Marc Siroën, 1993. "Marchés contestables, différenciation des produits et discrimination des prix," Revue Économique, Programme National Persée, vol. 44(3), pages 569-592.
    13. Minguez-Vera, Antonio & Martin-Ugedo, Juan Francisco, 2007. "Does ownership structure affect value? A panel data analysis for the Spanish market," International Review of Financial Analysis, Elsevier, vol. 16(1), pages 81-98.
    14. Peter Kuhn, 1982. "Malfeasance in Long Term Employment Contracts: A New General Model with an Application to Unionism," NBER Working Papers 1045, National Bureau of Economic Research, Inc.
    15. Shamsul Arifeen Khan Mamun, 2012. "Stochastic estimation of cost frontier: evidence from Bangladesh," Education Economics, Taylor & Francis Journals, vol. 20(2), pages 211-227, May.
    16. Renneboog, L.D.R. & Simons, T., 2005. "Public-to-Private Transactions : LBOs, MBOs, MBIs and IBOs," Other publications TiSEM 3b76799c-591c-4d22-b126-a, Tilburg University, School of Economics and Management.
    17. Makoto Yano, 2005. "Coexistence of large firms and less efficient small firms under price competition with free entry," International Journal of Economic Theory, The International Society for Economic Theory, vol. 1(3), pages 167-188, September.
    18. Ali Osman Gurbuz & Asli Aybars, 2010. "The Impact of Foreign Ownership on Firm Performance, Evidence from an Emerging Market: Turkey," American Journal of Economics and Business Administration, Science Publications, vol. 2(4), pages 350-359, November.
    19. Boone, J., 2004. "Balance of Power," Other publications TiSEM d3f8cd4b-eaf0-4c1c-aed4-5, Tilburg University, School of Economics and Management.
    20. Pascal Louvet & Ollivier Taramasco, 2004. "Gouvernement d’entreprise:un modèle de répartition de la valeur créée entre dirigeant et actionnaire," Revue Finance Contrôle Stratégie, revues.org, vol. 7(1), pages 81-116, March.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:coecpo:v:3:y:1985:i:3:p:105-118. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/weaaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.