Buyer Groups, Antitrust and Outsiders

Stephen P. King
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引用次数: 5

Abstract

A buyer group is a subset of downstream firms that pool their demand for an upstream input to negotiate a better deal with suppliers. This study develops a simple model that shows how a buyer group changes market behaviour, focusing on the impact on downstream firms outside the buyer group. This impact critically depends on whether or not the buyer group and the supplier can write a contract contingent on the market price paid by outsiders. With contingent contracts, the price paid by firms outside the buyer group rises and their profits fall. If such contracts are infeasible, possibly due to legal concerns, the market price is lower after the buyer group forms. These results raise issues for antitrust authorities in Australia, Europe, the USA and elsewhere who evaluate buyer-group agreements. We extend the model to consider the situation where a supplier can commit in advance to the market price. In this situation, the bargaining power of the buyer group becomes relevant with the market price inversely related to this bargaining power. We illustrate our results with a simple example.
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买方团体、反垄断和局外人
买方集团是下游公司的一个子集,它们汇集了对上游投入的需求,以便与供应商谈判达成更好的交易。本研究开发了一个简单的模型,展示了买家群体如何改变市场行为,重点关注对买家群体之外的下游企业的影响。这种影响主要取决于买方集团和供应商能否根据外部支付的市场价格签订合同。有了或有合同,买家之外的公司支付的价格上升,利润下降。如果这种合同不可行,可能是由于法律方面的考虑,买方集团形成后市场价格就会降低。这些结果给澳大利亚、欧洲、美国和其他地方评估买方集团协议的反垄断机构提出了问题。我们将模型扩展到考虑供应商可以提前承诺市场价格的情况。在这种情况下,买方群体的议价能力与市场价格成反比,市场价格与买方群体的议价能力成反比。我们用一个简单的例子来说明我们的结果。
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