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| Tekijä: | Hughes, J.E. |
| Otsikko: | The higher price of cleaner fuels: market power in the rail transport of fuel ethanol |
| Lehti: | Journal of Environmental Economics and Management
2011 : SEP, VOL. 62:2, p. 123-139 |
| Asiasana: | price discrimination fuel climate change renewable resources public policy |
| Kieli: | eng |
| Tiivistelmä: | This article provides evidence of market power in the transportation of ethanol for reformulated gasoline and alternative transportation fuels. A reduced form model is estimated for railroad route-level prices. The identification strategy instruments for railroad entry, controlling for selection and explicitly modelling capacity constraints. A detailed understanding of this industry is important as U.S. environmental policies seek to significantly expand ethanol use. Evidence of market power may change the types of policies pursued by lawmakers. Ethanol shipment prices are found lower for more competitive routes. Evidence is also found of price discrimination of railroads along environmental regulation at route destinations. Monopolist prices for shipments to carbon monoxide non-attainment areas are 3% higher than to other destinations. This price premium falls greatly with increased competition, suggesting a perverse result where environmental regulation raises the price of a clean input. |
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