| Project/Area Number |
15K17057
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| Research Category |
Grant-in-Aid for Young Scientists (B)
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| Allocation Type | Multi-year Fund |
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| Research Field |
Economic policy
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| Research Institution | Osaka University (2017-2018)
Waseda University (2015-2016) |
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Principal Investigator |
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| Project Period (FY) |
2015-04-01 – 2019-03-31
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| Project Status |
Completed (Fiscal Year 2018)
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| Budget Amount *help |
¥3,120,000 (Direct Cost: ¥2,400,000、Indirect Cost: ¥720,000)
Fiscal Year 2017: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2016: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2015: ¥1,820,000 (Direct Cost: ¥1,400,000、Indirect Cost: ¥420,000)
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| Keywords | カルテル / 企業結合 / 垂直結合 / 動学構造推定 / 実証研究 / 構造推定 |
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| Outline of Final Research Achievements |
The relationship between cartel and mergers and acquisitions (M&A) is studied with structural and reduced form approaches. Using the concept of partial identification, a new estimation approach identifying the latent cartel probability is developed. With this approach, the cartel probability is identified as a set. This approach is applied to the real world industry to explore how mergers affect cartel incentive. More concretely, the relationship between vertical merger and upstream cartel is empirically analyzed and it is shown that vertical merger affects upstream cartel in the Japanese cement industry. For the structural analysis, a model describing cartel pricing dynamics is constructed and the estimation method for this model is developed. This analysis shows that detection possibility restricts cartel behavior.
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| Academic Significance and Societal Importance of the Research Achievements |
公正取引委員会が公表している企業結合ガイドラインにもあるように，企業結合とカルテルとは競争政策において極めて重要なトピックである．市場構造が企業結合によって変化した時にカルテル形成のインセンティブにどのような影響があるかは企業結合審査に不可欠な考慮要件である．本研究では，方法論の提供およびそれに基づく実証研究の提供という二つの観点から競争政策にとって意義のあるものになっている．まず，カルテル分析の方法論的課題に対して，従来の方法よりも信頼の置ける新たな方法を開発した．そして，それを現実の産業に応用することによって企業結合とカルテルとの関係に実証的な証拠を提供することができた．
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