Banca de DEFESA: PAULO ROBERTO DE MELO BARROS JUNIOR

Uma banca de DEFESA de MESTRADO foi cadastrada pelo programa.
DISCENTE : PAULO ROBERTO DE MELO BARROS JUNIOR
DATA : 28/02/2020
HORA: 14:30
LOCAL: Faculdade de Economia
TÍTULO:

PRICE FORMATION IN PROCESS-INTENSIVE OLIGOPOLIES: STUDY OF THE WORLD MARITIME SEISMIC ACQUISITION MARKET

PALAVRAS-CHAVES:

Maritime Seismic Acquisition. Industrial Organization. NEIO. Oligopolies. Price Formation.

PÁGINAS: 154
GRANDE ÁREA: Ciências Sociais Aplicadas
ÁREA: Economia
RESUMO:

In this work we investigate the price formation process in the Maritime Seismic Acquisition Market (MSAM), process intensive activity that is at the base of the oil industry chain. Our main objective is to find the determinants of price changes based on two principal components, costs and mark-ups and their relationships with market structures and firms conduct, verifying if the leading suppliers in this market present a market power or profit margins superior to the firms on the MSAM fringe. For that, we used the theoretical framework of the Industrial Organization (IO) and the New Empirical Industrial Organization (NEIO) in the analysis of the empirical data of MSAM at a global database in the period between 2006 and 2018. The research presents three main steps: determination of demand using a proxy of the exploration investments obtained from the regression of endogenous and exogenous variables on the investment decisions of the oil companies that work at offshore basins; modeling of cost functions considering the technical efficiencies of firms and their governance models; and the calculations of the E-C-D and NEIO parameters related to concentration, market power and competition. We found that the level of concentration (C4 and HHI) and the profits of suppliers in MSAM decrease with the increase in demand, for which positive fluctuations are supplied by firms in the market fringe, generating pressure on the average costs of the industry, a important factor to explain the price increase during periods of market heating. Contrary to our departure hypothesis we concluded that although MSAM is concentrated, its firms have low levels of market power and mark-ups, and that this market presents a high degree of competition, configuring itself as a Competitive Oligopoly.

MEMBROS DA BANCA:
Interno - 1389880 - BERNARDO PEREIRA CABRAL
Presidente - 286576 - HAMILTON DE MOURA FERREIRA JUNIOR
Interno - 2265288 - LEONARDO BISPO DE JESUS JUNIOR
Externo à Instituição - MARCIO WOHLERS DE ALMEIDA - UNICAMP