2018 Fiscal Year Final Research Report

A Structural Analysis of Vertical Integration(Fostering Joint International Research)

Research Project

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Project/Area Number	16KK0054
Research Category	Fund for the Promotion of Joint International Research (Fostering Joint International Research)
Allocation Type	Multi-year Fund
Research Field	Economic policy
Research Institution	Nagoya University
Principal Investigator	Adachi Takanori 名古屋大学, 経済学研究科, 准教授 (50515153)
Research Collaborator	Luo Y. University of Toronto, Department of Economics, Assistant Professor Tremblay M.
Project Period (FY)	2016 – 2018
Keywords	垂直的関係 / 構造推定 / 産業組織 / 競争政策
Outline of Final Research Achievements	In this study, we aimed at theoretical and empirical analysis of vertical relationships between firms, which are frequent topics in competition policy, with focus on, among others, vertical integration and platform competition. First, it is found that vertical integration may entail not only pro-competitive effects such as elimination of double marginalization but also anti-competitive effects such as relaxation of price competition. The latter point has been widely recognized by practitioners, but it is a relatively new issue in academic research. Second, it is shown that a stronger degree of platform bargaining power in the face of participating firms improves consumer welfare in the context of two-sided markets. It is also demonstrated that introducing premium cards in the credit card industry is likely to raise the retail price. Overall, these results would suggest some possible directions toward reformulation of competition policy.
Free Research Field	産業組織、競争政策
Academic Significance and Societal Importance of the Research Achievements	商取引におけるインターネット化に伴い、一般国民、即ち、一般消費者の利益に叶うような形で各種の取引手段・取引方法が形成されつつあるのかどうかを注意深く検討してゆくことは、健全な市場社会を維持・発展させていく上で必要不可欠なことである。例えば、ポイント制の普及は、一消費者の立場から見れば利に適う取引形態にも見えるが、経済全体での意味合いとしてはどのようなものであろうか。また、例えば、コンテンツ企業とポータル配信企業との統合は、果たして一般消費者に利便だけを与えるものと言えるのであろうか。本研究は、そういった諸問題に対し、今後の競争政策の有り方を検討してゆくのに際しての可能な方向性を示すものである。