کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5078270 1477338 2011 13 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Legal unbundling can be a golden mean between vertical integration and ownership separation
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Legal unbundling can be a golden mean between vertical integration and ownership separation
چکیده انگلیسی

We study an industry in which an upstream monopolist supplies an essential input at a regulated price to several downstream firms. Legal unbundling means in our model that a downstream firm owns the upstream firm, but this upstream firm is legally independent and maximizes its own upstream profits. We allow for non-tariff discrimination by the upstream firm and show that under quite general conditions legal unbundling never yields lower quantities in the downstream market than ownership separation and integration. Therefore, typically, consumer surplus will be largest under legal unbundling. Outcomes under legal unbundling are still advantageous when we allow for discriminatory capacity investments, investments into marginal cost reduction and investments into network reliability. If access prices are unregulated, however, legal unbundling may be quite undesirable.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Journal of Industrial Organization - Volume 29, Issue 5, September 2011, Pages 576-588
نویسندگان
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