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| Registros recuperados: 10 | |
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| Bullock, J. Bruce. |
| Conventional wisdom holds that a small and decreasing number of hog slaughter firms are using their "market power" to take advantage of U.S. hog producers. Existing studies have simply calculated industry concentration ratios and assumed/asserted that the performance of such a concentrated industry must be different from the performance of a perfectly competitive industry. These researchers have rejected without testing the hypothesis that: the observed performance of the U.S. hog slaughter industry is not different from the performance that would be generated by a perfectly competitive industry. This paper derives the theoretical relationships between hog and pork prices, and hence the farm-wholesale price spread, that would exist in a perfectly... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agribusiness; Industrial Organization; Livestock Production/Industries. |
| Ano: 2003 |
URL: http://purl.umn.edu/26044 |
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| Bullock, J. Bruce. |
| Conventional wisdom suggests that weekly prices at farm, wholesale, and retail levels should exhibit symmetry. Observation of asymmetrical price movements is submitted as evidence of the existence and use of "market power" at one or more levels of the market. However, application of economic theory of the market clearing process in a well functioning, competitive livestock market shows that weekly prices will move asymmetrically. Studies that confirm asymmetric weekly price movements in farm, wholesale, and retail prices of pork demonstrate that these markets are performing as we would expect well functioning, competitive markets to operate. Claims that evidence of asymmetric weekly (or even monthly and quarterly average prices) is not evidence of market... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Livestock Production/Industries. |
| Ano: 2001 |
URL: http://purl.umn.edu/92891 |
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| Registros recuperados: 10 | |
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