Concerted Action of Oligopolistic Firms- A Case Study of Chinese Petroleum Corporation and Formosa Petrochemical Corporation
Date Issued
2007
Date
2007
Author(s)
Huang, Shih-Han
DOI
zh-TW
Abstract
Abstract
This research is a case study of Fair Trade Commission (hereafter "FTC") fining Chinese Petroleum Corp. (hereafter "CPC") and Formosa Petrochemical Corp. (hereafter "FPC") for violating the Fair Trade Law by constituting concerted action. In Taiwan, there are only two firms in gasoline production market. The market structure is considered as duopoly. In 2005, FTC considered that CPC and FPC had utilized media to trade pricing information to make their own pricing decision. Therefore, FTC decided that these two companies had constituted a concerted action that violated the Fair Trade Law of the R.O.C. However, there are controversial opinions on this issue. The most important is that based on economic theories it is common that price leader-follower model appears in oligopoly market, especially in duopoly. This thesis discusses the appropriateness of the rule on this issue and tries to offer opinion on some related issues of the concerted action.
As for the structure of this thesis, first, Chapter 1 introduces this case and Chapter 2 reviews the related studies. In Chapter 3, some issues of ‘concerted action’ in practice are discussed. Then, Chapter 4 analyzes other related cases. In Chapter 5, regulations of some other countries are reviewed, so as to suggest amendments for the Fair Trade Law of the R.O.C. Chapter 6 concludes all the issues mentioned and offers some opinion of the author. Finally, Chapter 7 makes a brief conclusion of this thesis.
Subjects
寡占市場
聯合行為
一致性行為
預告價格
oligopoly
Fair Trade Law
Concerted Action
information exchange
advance price announcement
Type
thesis
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