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(No)competition in the Spanish retailing gasoline market: a variance filter approach

Author

Listed:
  • Juan Luís Jiménez

    (Departamento de Análisis Económico Aplicado. Grupo de Economía de las Infraestructuras y el Transporte. Universidad de Las Palmas de Gran Canaria)

  • Jordi Perdiguero

    (PPRE-IREA, Universitat de Barcelona)

Abstract

Various methodologies in economic literature have been used to analyse the international hydrocarbon retail sector. Nevertheless at a Spanish level these studies are much more recent and most conclude that generally there is no effective competition present in this market, regardless of the approach used. In this paper, in order to analyse the price levels in the Spanish petrol market, our starting hypothesis is that in uncompetitive markets the prices are higher and the standard deviation is lower. We use weekly retail petrol price data from the ten biggest Spanish cities, and apply Markov chains to fill the missing values for petrol 95 and diesel, and we also employ a variance filter. We conclude that this market demonstrates reduced price dispersion, regardless of brand or city.

Suggested Citation

  • Juan Luís Jiménez & Jordi Perdiguero, 2009. "(No)competition in the Spanish retailing gasoline market: a variance filter approach," Working Papers XREAP2009-05, Xarxa de Referència en Economia Aplicada (XREAP), revised May 2009.
    • Handle: RePEc:xrp:wpaper:xreap2009-05
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    Citations

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    Cited by:

    1. Agustí Segarra, 2011. "R&D cooperation between Spanish firms and scientific partners: what is the role of tertiary education?," Working Papers XREAP2011-17, Xarxa de Referència en Economia Aplicada (XREAP), revised Nov 2011.
    2. Joan-Ramon Borrell & Juan Luis Jiménez & Carmen García, 2014. "Evaluating Antitrust Leniency Programs," Journal of Competition Law and Economics, Oxford University Press, vol. 10(1), pages 107-136.
    3. Raúl Ramos & Esteban Sanromá & Hipólito Simón, 2014. "Public-Private Sector Wage Differentials by Type of Contract: Evidence from Spain," Hacienda Pública Española / Review of Public Economics, IEF, vol. 208(1), pages 107-141, March.
    4. Marta Arespa, 2011. "Macroeconomics of extensive margins: a simple model," Working Papers XREAP2011-19, Xarxa de Referència en Economia Aplicada (XREAP), revised Nov 2011.
    5. Pim Heijnen & Marco A. Haan & Adriaan R. Soetevent, 2015. "Screening for collusion: a spatial statistics approach," Journal of Economic Geography, Oxford University Press, vol. 15(2), pages 417-448.
    6. Xavier Fageda & Jordi Perdiguero, 2014. "An Empirical Analysis of a Merger Between a Network and Low-cost Airlines," Journal of Transport Economics and Policy, University of Bath, vol. 48(1), pages 81-96, January.
    7. Lluís Bermúdez & Antoni Ferri & Montse Guillén, 2011. "A correlation sensitivity analysis of non-life underwriting risk in solvency capital requirement estimation," IREA Working Papers 201113, University of Barcelona, Research Institute of Applied Economics, revised Sep 2011.
    8. Verònica Gombau & Agustí Segarra, 2011. "The Innovation and Imitation Dichotomy in Spanish firms: do absorptive capacity and the technological frontier matter?," Working Papers XREAP2011-22, Xarxa de Referència en Economia Aplicada (XREAP), revised Dec 2011.
    9. Mercedes Ayuso & Montserrat Guillen & Catalina Bolancé, 2011. "Loss risk through fraud in car insurance," Working Papers XREAP2011-08, Xarxa de Referència en Economia Aplicada (XREAP), revised Jun 2011.
    10. Antoni Ferri & Lluís Bermúdez & Montserrat Guillén, 2012. "How to use the standard model with own data?," Working Papers XREAP2012-03, Xarxa de Referència en Economia Aplicada (XREAP), revised Feb 2012.
    11. Antoni Ferri & Montserrat Guillén & Lluís Bermúdez, 2012. "Solvency Capital estimation and Risk Measures," Working Papers XREAP2012-02, Xarxa de Referència en Economia Aplicada (XREAP), revised Jan 2012.
    12. Montserrat Guillen & Adelina Comas-Herrera, 2011. "How much risk is mitigated by LTC Insurance? A case study of the public system in Spain," Working Papers XREAP2011-07, Xarxa de Referència en Economia Aplicada (XREAP), revised Jun 2011.
    13. Marta Arespa, 2011. "A New Open Economy Macroeconomic Model with Endogenous Portfolio Diversifi cation and Firms Entry," Working Papers XREAP2011-15, Xarxa de Referència en Economia Aplicada (XREAP), revised Oct 2011.

    More about this item

    Keywords

    Competition; Petrol; Variance filter analysis; Gibbs sampling; Markov chain Monte Carlo.;
    All these keywords.

    JEL classification:

    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • L59 - Industrial Organization - - Regulation and Industrial Policy - - - Other
    • L71 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Hydrocarbon Fuels

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