产业经济学英文资料.ppt

Chapter 9: Vertical Integration and Double Marginalization Chapter 9: Vertical Integration and Double Marginalization Chapter 9: Vertical Integration and Double Marginalization Chapter 9: Vertical Integration and Double Marginalization Double Marginalization ? Double marginalization: Inefficiency when two successive firms in a vertical chain each exercise market power – To exercise market power over downstream firms, upstream firm restricts supply and drives up input prices for downstream firms – To exercise market power over consumers, downstream firm restricts supply taking its high marginal costs (input prices) into account Chapter 9: Vertical Integration and Double Marginalization Chapter 9: Vertical Integration and Double Marginalization Chapter 9: Vertical Integration and Double Marginalization Externalities ? Externality: An action by one agent implies a benefit or cost for another agent ? In exercising market power over consumers, does downstream firm impose a negative externality on upstream firm? ? How does the role of externalities between firms change when firms integrate? – Is a vertically integrated firm socially efficient? Chapter 10 : Integration Alternatives and Antitrust Chapter 10:Integration Alternatives and Antitrust Chapter 10 : Integration Alternatives and Antitrust Double Marginalization Inefficiency Double marginalization: Inefficiency when two successive firms in a vertical chain each exercise market power – Double marginalization eliminated if: ? Upstream and downstream firms integrate ? Upstream or downstream firms lack market power ? Resale price maintenance allowed Chapter 10 : Integration Alternatives and Antitrust Chapter 10 : Integration Alternatives and Antitrust Chapter 10 : Integration Alternatives and Antitrust Chapter 10 : Integration Alternatives and Antitrust Chapter 10 : Integ