Percorrer por autor "Castelo, Francisco Duarte Ferreira"
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- The Portuguese seaport container sector : formulation of a geographical model using linear transportation costs and quality of servicePublication . Castelo, Francisco Duarte Ferreira; Branco, Fernando Manuel Ribeiro; Cabugueira, ManuelIn this investigation, I studied the container market for the Portuguese seaport sector, with a series of modified Hoteling models. I can compare optimal profit expressions from a two-seaport model and a three-seaport model. Furthermore, these models allow to understand how investment in holding several terminals and quality of service is fundamental to block competition, raise prices and obtain higher profits. Quality of service combined with a small number of competitors and the current market structure in Portugal are an attractive combination to improve Port authorities and private terminals payoffs. By doing this I can help explain what is happening in the Portuguese container sector, why there are so few players in the market and who is benefiting with this current market structure. I derive optimal price, profits and demand functions for the three main container seaports in Portugal: Leixões, Lisbon and Sines. It was important to understand what was the current market structure, who were the main players and what was their relationship. In the conclusions chapter, I leave some suggestions for the regulators if this market structure is desired, or if planned to change to a more competitive market there is also propositions. Should the regulator believe that no more competition can be allowed for the sector and that consumer well-being is safekept under this market structure, then the real observed prices and demands are optimal and no market power is being exhibited.