single destination market. Guided by a simple theoretical framework, we decompose countries' market shares into the … explore some of its determinants. Countries with a larger market size tend to be characterized by a more dispersed …

integration ; separation ; foreclosure ; market conduct ; petroleum industry …We examine the competitive effects of the vertical integration of gasoline refineries and retailers in the U …. Vertical foreclosure is found to increase the wholesale price of refined gasoline by 0.2 to 0.6 cents per gallon. -- vertical …

existence of these inventories be explained? In the presence of sufficiently stochastic prices, oil extracting firms have an … - firms hold stockpiles intending to cash in on periods of particularly high prices. I argue that empirical evidence supports … the former but not the latter explanation. -- Petroleum Economics ; Stochastic Dynamic Optimization …