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| Registros recuperados: 29 | |
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| Connor, John M.. |
| This paper surveys developments in analytical models and empirical findings concerning the strategic use of manufacturers' coupons for U.S. grocery products. Traditional theories examine the horizontal effects of coupons as a strategy to charge various classes of consumers different prices. Recent developments focus on the use of coupons in manufacturer-retailer vertical competition. The paper provides data on trends in couponing: numbers, face values, redemption rates, total promotional costs, and international usage. The paper further analyses the effective price discounts provided by coupons across brands and segments of ready-to-eat cereals during 1992-1995. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Coupons; Sales strategies; Vertical competition; Food products; Ready-to-eat cereals.; Industrial Organization; Marketing. |
| Ano: 1997 |
URL: http://purl.umn.edu/14344 |
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| Connor, John M.. |
| Both market structure and corporate practices of Archer Daniels Midland fostered the implementation of the largest price-fixing conspiracies seen in modern times. The overcharges imposed on U.S. buyers of lysine and citric acid during 1994-1995 by ADM and its co-conspirators amounted to at least $250 million, and the total amount of public penalties, private damages, and legal costs exceeds $666 million. Perpetrators of price-fixing now face monetary exposures that are five times the amount of the harm caused to buyers. These events have spurred renewed attention by U.S. antitrust authorities in prosecuting international cartels. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Demand and Price Analysis. |
| Ano: 2000 |
URL: http://purl.umn.edu/28664 |
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| Connor, John M.. |
| "Greed is good." --Gordon Gecko in Wall Street (1987) "Greed Is Bad." --Paul Krugman, The New York Times, June 4, 2002 "For many years, Archer Daniels Midland Co.'s philosophy of customer relations could be summed up by a quote from former ADM President James Randall: 'Our competitors are our friends. Our customers are the enemy.' This motto animated the company's business dealings and ultimately led to blatant violations of U.S. antitrust law, a guilty plea and a staggering criminal fine against the company . . . The facts involved in this case reflect an inexplicable lack of business ethics and an atmosphere of general lawlessness that infected the very heart of one of America's leading corporate citizens. Top executives at ADM and its Asian... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agribusiness. |
| Ano: 2002 |
URL: http://purl.umn.edu/28631 |
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| Connor, John M.. |
| This paper presents and analyses economic data on 167 international cartels that were discovered by antitrust authorities after January 1990. The median cartel had five corporate members and generated $1.2 billion in sales during the collusive period. Nearly 40% of affected sales occurred in the organic chemicals industries, half of which were sold to food, feed, and agricultural firms. On average, the cartels lasted nearly six years, but average durability declined by more than 60% from the early 1990s to the early 2000s. In the early 2000s more than 20 international cartels were discovered each year, a rate six times faster than the early 1990s. The large size and longevity of these cartels, when combined with average monopoly overcharges of 28%, cause a... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agribusiness. |
| Ano: 2003 |
URL: http://purl.umn.edu/28645 |
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| Connor, John M.. |
| While there are suggestions in applied cartel studies that price dispersion changes when cartelization of a market occurs, there are few theoretical or empirical analyses of this effect. This paper surveys the thin economic literature on the link between overt collusion and price dispersion. Formal theories and observation of cartel behavior suggest that during successfully collusive periods prices become less variable and more negatively skewed compared to relatively competitive periods. Four empirical studies of cartels verify these predictions. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agribusiness; Demand and Price Analysis. |
| Ano: 2004 |
URL: http://purl.umn.edu/28639 |
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| Connor, John M.. |
| This paper presents two major economic arguments relevant to a decision facing the U.S. Supreme Court in early 2004. In Empagran v. F. Hoffmann-LaRoche the Court must decide whether companies like Empagran, an Ecuadorian animal-feed manufacturer, ought to be permitted to sue for treble damages under the 1890 Sherman Act, even though Empagran bought vitamins from a convicted global cartel wholly outside U.S. territory. Because of ineffective antitrust enforcement in its home country, Empagran and similarly situated buyers favor having this right, whereas Roche and 19 other members of the vitamins cartel oppose it. The first argument in favor of extraterritorial expansion concerns the effects on U.S. consumers and the competitiveness of U.S. markets. I... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agribusiness; Agricultural and Food Policy. |
| Ano: 2004 |
URL: http://purl.umn.edu/28686 |
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| Connor, John M.. |
| This paper presents two major economic arguments relevant to a decision facing the U.S. Supreme Court in early 2004. In Empagran v. F. Hoffmann-LaRoche the Court must decide whether companies like Empagran, an Ecuadorian animal-feed manufacturer, ought to be permitted to sue for treble damages under the 1890 Sherman Act, even though Empagran bought vitamins from a convicted global cartel wholly outside U.S. territory. Because of ineffective antitrust enforcement in its home country, Empagran and similarly situated buyers favor having this right, whereas Roche and 19 other members of the vitamins cartel oppose it. The first argument in favor of extraterritorial expansion concerns the effects on U.S. consumers and the competitiveness of U.S. markets. I... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: International Relations/Trade. |
| Ano: 2005 |
URL: http://purl.umn.edu/19499 |
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| Connor, John M.. |
| This paper surveys hundreds of published social-science studies of private, hard-core cartels that contain 699 observations of long-run overcharges. The primary finding is that the median cartel overcharge for all types of cartels over all time periods is 25%: 19% for domestic cartels, 32% for international cartels, and 31% for all successful cartels. Thus, international cartels have historically been about 68% more effective in raising prices than domestic cartels. Cartel overcharges are skewed to the high side, pushing the mean overcharge for all types of cartels over all time periods to 42%. "Peak" cartel overcharges are typically double those of the long-run averages. These results are generally consistent with the few, more limited, previously... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: International Relations/Trade. |
| Ano: 2005 |
URL: http://purl.umn.edu/19254 |
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| Hopkins, Yvette S.; Connor, John M.. |
| A growing body of empirical studies have been interpreted as support for a laissez-faire policy towards mergers. These "event studies" examine the reaction of stock market prices of firms that announce an agreement to merge. The type ~f reaction reveals whether a merger is motivated by a desire for market power or purely to improve market efficiency. In this paper, a version of the capital asset pricing model (CAPM) is applied to determine if abnormal returns are earned by rivals of 22 pairs of firms whose attempted horizontal mergers were challenged by the federal antitrust agencies. At most eight, and possibly only five, of the cases were found to be motivated by efficiency in seeking merger, and at most six, and possibly only one, were motivated by... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Industrial Organization. |
| Ano: 1992 |
URL: http://purl.umn.edu/116105 |
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| Binkley, James K.; Connor, John M.. |
| This paper examines the relationship of 1987 retail grocery prices to supermarket sales concentration across 95 U.S. metropolitan areas. The regression model incorporates a large number of population, retail-cost, and retail competition factors and separate prices by type of grocery item. We find that the concentration-price relationship is sensitive to item type: positive for packaged, branded, dry groceries and unrelated for produce, meat, and dairy product prices. As for market rivalry, we find that small grocery stores provide no grocery price competition for supermarkets. However, branded grocery prices are driven down by fast-food places and by rapid price churning, whereas for unbranded foods the presence of warehouse stores places downward... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Retail grocery trade; Pricing policy; Variable price merchandising; Market competition; Category management; Market structure; Sales concentration; Price discrimination; Price rivalry; Oligopoly; Food demand; Food prices; Consumer/Household Economics. |
| Ano: 1996 |
URL: http://purl.umn.edu/25988 |
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| Connor, John M.. |
| The paper discusses trends in ownership concentration in three principal stages of the food system: food retailing, food manufacturing, and selected inputs purchased by agricultural producers and by food processors. In each of these levels, the available information from North America, Western Europe, or global sources shows that sales concentration is increasing. An attempt is then made to assess the impact on performance of these concentration trends for final consumers and to a lesser extent for agricultural producers. Performance measures most of interest are the traditional ones derived from economic welfare analysis of imperfect competition. Market performance is analyzed one level at a time but the more difficult arena of vertical subsector... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agricultural and Food Policy; International Relations/Trade. |
| Ano: 2003 |
URL: http://purl.umn.edu/28675 |
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| Registros recuperados: 29 | |
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