Keywords: Greek-Italian coastal routes, market structure, supply and demand, Herfindahl index, ferry routes, Greece, Italy, market share
The structure of the market in the Greek Italian sea transportation: a theoretical and empirical investigation
The paper investigated the economic structure of the Ferry market between Italy and Greece. Its tools are those of Managerial Economics and Microeconomics. First, the conditions of demand and supply are examined looking in particular into the number of companies in each route, free entry-exit as well as other variables. Then the main characteristics of oligopoly are set. Finally, we have calculated the Herfindahl-Hirschman index for the structure of markets. We used the market share of each company in each route for passengers, cars and Lorries. Patras-Ancona found oligopoly; Patras-Bari is monopoly as well as Patras-Brindisi; Patras-Venice is duopoly.