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Master's Dissertation
DOI
10.11606/D.12.2008.tde-13012009-164211
Document
Author
Full name
José Barreto de Andrade Neto
E-mail
Institute/School/College
Knowledge Area
Date of Defense
Published
São Paulo, 2008
Supervisor
Committee
Postali, Fernando Antonio Slaibe (President)
Farina, Elizabeth Maria Mercier Querido
Lucinda, Claudio Ribeiro de
Title in Portuguese
Análise dos efeitos de integrações verticais e uma aplicação para o mercado brasileiro de GLP
Keywords in Portuguese
Concentração econômica
Oligopólio
Organização industrial
Abstract in Portuguese
O principal índice usado para medir concentrações horizontais é o Hirschmann-Herfindahl Index (HHI). Este índice tornou-se popular nos últimos anos devido ao seu apelo teórico e a sua simplicidade computacional, entretanto, apesar desta conveniência, o HHI é inaplicável na análise de mercados em que os compradores possuem poder de mercado. Isso ocorre porque o modelo de Cournot supõe que apenas os vendedores podem influenciar os preços. O erro causado pela aplicação inadequada do HHI é ainda maior quando o mercado considerado apresenta firmas verticalmente integradas. Diante disso, o objetivo deste trabalho é aplicar o MHI, medida de concentração sugerida por Hendricks e Mcafee (2007), na análise da aquisição da Agip pela BR, com vistas a identificar os impactos da operação sobre a concorrência, comparando os resultados com a análise da SEAE e a decisão do CADE. O MHI é capaz de captar a mudança de incentivos de todas as firmas do mercado estudado após o Ato de Concentração, e permite que o efeito líquido da integração seja medido através das variações das margens preço/custo das firmas da indústria.
Title in English
Analysis of the effects of vertical integration and an application to the Brazilian market of GLP
Keywords in English
Concentration economic
Industrial organization
Oligopoly
Abstract in English
The main index that is used to measure horizontal concentrations is the Hirschmann-Herfindahl Index (HHI). This index became popular in the last years due to its theoretical appeal and its computational simplicity. However, despite this convenience, the HHI is inapplicable in the analysis of markets where the purchasers have market power. This happens because the Cournot model assumes that only the sellers can influence the prices. The error caused by inadequate application of HHI is even bigger when the considerate market shows vertically integrated firms. In front of this, the objective of this work is apply the MHI, the concentration measure suggested by Hendricks e McAfee (2007), in the analysis of Agip acquisition by BR, with the purpose of identify the operation impacts in the competition, comparing the results with the SEAE analysis and the CADE decision. MHI is capable of catch the incentive change in all firms of the analyzed market after the Concentration Act, and allows that the operations net effect is measured through the price-cost margin variation.
 
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Jose_Barreto.pdf (1.84 Mbytes)
Publishing Date
2009-01-14
 
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