Capacity Expansions timing patterns in the United Kingdom’s petroleum refining industry between 1948 and 1998
We try to get a handle on whether capacity expansion timing patterns in oligopoly among incumbents are followed. We study the United Kingdom ´s petroleum refining industry between 1948 and 1998. Using fixed-effects logit models, we find that U.K.´s refiners have not followed any definite capacity expansion-timing pattern.
L11 - Production, Pricing, and Market Structure; Size Distribution of Firms, L13 - Oligopoly and Other Imperfect Markets, L71 - Mining, Extraction, and Refining: Hydrocarbon Fuels