Markup pricing in petroleum refining: A multiproduct framework

被引：9
|
作者：
Considine, TJ [1 ]
机构：
[1] Penn State Univ, Dept Energy Environm & Mineral Econ, University Pk, PA 16802 USA
来源：
INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION | 2001年 / 19卷 / 10期
关键词：
markups; pricing; petroleum;
D O I：
10.1016/S0167-7187(00)00055-2
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper describes a structural model of markup pricing under joint production with quasi-fixed inputs of capital, labor, and inventories. The price-cost markups are functions of the inverse price elasticity of demand, an industry average conjectural variation elasticity, and the inventory to sales ratio. Our empirical findings suggest significant markups over marginal cost that differ considerably by product. This study also estimates the elasticities of markups with respect to supply and demand shocks. (C) 2001 Elsevier Science BY. All rights reserved.
引用
收藏
页码：1499 / 1526
页数：28
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