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Registros recuperados: 29
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Will There Be a Concentration of Alikes? The Impact of Labor Market Structure on Industry Mix in the Presence of Product Market Shocks AgEcon
Stahl, Konrad; Walz, Uwe.
We analyze determinants of regional industry mix and focus especially on the influence of labor market characteristics. By combining a labor market pooling argument with an argument involving the cost of switching a worker from one firm to another, we show that in the presence of product market shocks there exists an interesting trade-off for the concentration of firms of the same industry in one region. Firms belonging to different industries are hedged against industry-specific shocks if they settle in the same region, but face higher switching costs (retraining costs for workers moving from one firm to another). In addition, with a given supply of labor there is an additional rationing effect affecting the location decisions of firms. Against the...
Tipo: Working or Discussion Paper Palavras-chave: Local labor market; Product market shocks; Industry structure; Imperfect competition; Industrial Organization; Labor and Human Capital; J4; L1; R3.
Ano: 2001 URL: http://purl.umn.edu/26362
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Market Power and Output-Based Refunding of Environmental Policy Revenues AgEcon
Fischer, Carolyn.
Output-based refunding of environmental policy revenues combines a tax on emissions with a subsidy to output. With imperfect competition, subsidies can discourage output underprovision. However, when market shares are significant, endogenous refunding suffers compared to a fixed subsidy. Refunding the emissions tax according to market share reduces the incentive to abate, and marginal abatement costs will not be equalized if market shares differ. In a Cournot duopoly, endogenous refunding leads to higher output, emissions, and possibly costs compared to a fixed rebate program. These results hold whether emission rates are determined simultaneously or strategically in a two-stage model.
Tipo: Working or Discussion Paper Palavras-chave: Emissions tax; Earmarking; Tradable performance standards; Imperfect competition; Cournot; Duopoly; Refunding; Subsidy; Environmental Economics and Policy; H21; H23; Q2.
Ano: 2003 URL: http://purl.umn.edu/10893
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EVALUATING U.S. GENERIC MILK ADVERTISING EFFECTIVENESS USING AN IMPERFECT COMPETITION MODEL AgEcon
Suzuki, Nobuhiro; Kaiser, Harry M.; Lenz, John E.; Forker, Olan D..
An analytical model to evaluate the effectiveness of u.s. generic milk advertising which incorporates the degree of market competition is presented. Unlike traditional perfect competition models, the imperfect competition model allows for simultaneous movement of both price and quantity with an endogenous fluid (Class I) price differential. The simulation results of the imperfect competition model are compared with the conventional exogenous fluid price differential model. It is shown that the conventional fixed fluid price differential model may under-state the effectiveness of U.s. generic milk advertising in terms of returns to producers.
Tipo: Technical Report Palavras-chave: Generic milk advertising; Imperfect competition; Fluid differential; Livestock Production/Industries; Marketing.
Ano: 1993 URL: http://purl.umn.edu/123015
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MIRAGE, Updated Version of the Model for Trade Policy Analysis: Focus on Agriculture and Dynamics AgEcon
Decreux, Yvan; Valin, Hugo.
MIRAGE is a multi-region, multi-sector computable general equilibrium model, devoted to trade policy analysis. It incorporates imperfect competition, horizontal and vertical product differentiation, and foreign direct investment, in a sequential dynamic set-up where installed capital is assumed to be immobile. Adjustment inertia is linked to capital stock reallocation. MIRAGE draws upon a very detailed measure of trade barriers and of their evolution under given hypotheses, thanks to the MAcMap database. The most recent version, presented in this paper, offers improvements in the modelling of agriculture policy and dynamics.
Tipo: Working or Discussion Paper Palavras-chave: Computable general equilibrium model; Trade policy; Dynamics; Foreign direct investment; Imperfect competition; International Relations/Trade; D58; F12; F13.
Ano: 2007 URL: http://purl.umn.edu/7284
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Crop Research Incentives in a Privatized Industry: A Stochastic Approach AgEcon
Malla, Stavroula; Gray, Richard S..
We model today's privatized crop research industry as a small number of firms, developing and selling differentiated products to heterogeneous producers. Crop variety research is modeled as a search process, which allows us to differentiate between applied and basic research and recognize research as a stochastic process. We use the framework to develop a number of propositions regarding private research incentives, the spillovers of knowledge, and the impact of public policy. The results suggest an underinvestment in research even when property rights have been established.
Tipo: Conference Paper or Presentation Palavras-chave: Search process; Stochastic process; Biotechnology; IPRs; Applied R&D; Basic R&D; Imperfect competition; Differentiated products; Heterogeneous producers.; Agribusiness.
Ano: 2002 URL: http://purl.umn.edu/24936
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Imperfect competition in the fresh tomato industry AgEcon
Hadj Djelloul, Mohammed; Requillart, Vincent; Simioni, Michel.
In this paper, we analyse the market power of the retail industry in the French tomato market. Following the methods developed in the New Empirical Industrial Organization, we develop a structural model of this industry. The analysis is based on detailed data on final consumption and prices at both shipper and consumer levels for two types of tomatoes in France. The structural model is composed of a system of demand equation and supply equation. Supply equation includes a term that represents the market power of the retail sector. We use different models of demand in order to test the robustness of our results. We show that i) elasticity of demand varies during the year ii) the retail sector exercise only a "moderate" market power iii) the estimated...
Tipo: Conference Paper or Presentation Palavras-chave: Market power; Imperfect competition; Fresh products; Crop Production/Industries; Demand and Price Analysis; Marketing; L13; Q13; L66; L81.
Ano: 2008 URL: http://purl.umn.edu/6682
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Effects of Country of Origin Labeling in the U.S. Meat Industry with Imperfectly Competitive Processors AgEcon
Chung, Chanjin; Zhang, Tong; Peel, Derrell S..
The study examines the impacts of implementing mandatory country of origin labeling (COOL) on producer and consumer welfare in the U.S. meat industry. The equilibrium displacement model developed in this study includes twenty-nine equations representing retail-, processing-, and farm-level equilibrium conditions for the beef, pork, and chicken industries. Unlike previous studies, the model allows trade between domestic- and foreign-origin products and considers the imperfectly competitive market structure of meat processers. Empirical results show that without a significant increase in domestic meat demand, producers are not expected to benefit from the mandatory COOL implementation. Results of a sensitivity analysis indicate that consumers tend to bear...
Tipo: Journal Article Palavras-chave: Checkoff; Country of origin labeling; Imperfect competition; Price elasticity; Marketing.
Ano: 2009 URL: http://purl.umn.edu/59255
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Climate Policy, Carbon Leakage and Competitiveness: How Might Border Tax Adjustments Help? AgEcon
Sheldon, Ian M.; McCorriston, Steve.
In this paper, analysis is presented relating to the impact of border tax adjustments for climate policy on the international competitiveness of energy-intensive industries, and the related problem of carbon leakage. While many of the economic and legal issues are not particularly new, climate policy does present some possible twists to the analysis of border tax adjustments when vertically-related markets can be characterized as a successive oligopoly. Specifically, an appropriate border tax adjustment will depend on the incidence of a domestic carbon tax, the nature of competition in upstream and downstream sectors, as well as the basis for assessing the trade neutrality of any border tax adjustment. If trade neutrality is defined in terms of market...
Tipo: Conference Paper or Presentation Palavras-chave: Climate policy; Carbon leakage; Border tax adjustments; Imperfect competition; Environmental Economics and Policy; International Relations/Trade; H87; Q38.
Ano: 2011 URL: http://purl.umn.edu/103207
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Imperfect Competition and Total Factor Productivity Growth in U.S. Food Processing AgEcon
Azzam, Azzeddine M.; Lopez, Elena; Lopez, Rigoberto A..
This article examines the role of imperfect competition in determining total factor productivity growth (TFPG) by bringing together a New Empirical Industrial Organization (NEIO) model and the TFPG model of Nadiri and Mamuneas (1998). Applying the integrated model to 1973-92 data from 29 food processing industries revealed that changes in markups, economies of scale, and demand growth contributed positively to TFPG while the disembodied technical change was a negative contributor. Furthermore, the TFPG estimates are starkly different from the conventional (Solow's residual) TFPG measures, underscoring the need to account for imperfect competition, returns to scale, and demand in analyses of this type.
Tipo: Working or Discussion Paper Palavras-chave: Productivity growth; Imperfect competition; Scale economies; Food processing; Agribusiness; Industrial Organization; Productivity Analysis.
Ano: 2002 URL: http://purl.umn.edu/25147
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NONCOMPETITIVE PRICING AND EXCHANGE RATE PASS-THROUGH IN SELECTED U.S. AND THAI RICE MARKETS AgEcon
Yumkella, Kandeh K.; Unnevehr, Laurian J.; Garcia, Philip.
A "pricing to market" international trade model is applied to U.S. and Thai rice exports to high and middle income countries that are continuous rice importers. These markets are characterized by strong quality preferences and highly inelastic demand, and thus exporters may exercise market power. Evidence of noncompetitive pricing either through price discrimination across destinations or through imperfect exchange rate pass-through is found in this small but growing segment of the international rice trade.
Tipo: Journal Article Palavras-chave: Exchange rates; Imperfect competition; International trade; Rice; International Relations/Trade.
Ano: 1994 URL: http://purl.umn.edu/15183
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On Pricing and Vertical Organization of Differentiated Products: The Case of Soybean Seed Industry AgEcon
Shi, Guanming; Chavas, Jean-Paul.
This paper investigates the pricing and vertical organization of differentiated products under imperfect competition. In a multiproduct context, a Cournot model is used to examine how substitution/complementarity relationships among products and vertical structures can affect the exercise of market power. This motivates a generalization of the Herfindahl-Hirschman index (termed VHHI) capturing how market concentration and vertical structures interact to influence prices of differentiated products. The analysis is applied to pricing of soybean seeds in the US over the period 2000-2007. The analysis considers two vertical structures employed by biotech firms: vertical integration and licensing. The econometric analysis finds evidence that vertical...
Tipo: Conference Paper or Presentation Palavras-chave: Vertical structures; Pricing; Imperfect competition; Seed; Biotechnology; Demand and Price Analysis; Industrial Organization; L13; L4; L65.
Ano: 2009 URL: http://purl.umn.edu/49186
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OBSERVATIONS ON COOPERATIVE BARGAINING IN U.S. AGRICULTURAL MARKETS AgEcon
Hueth, Brent; Marcoul, Philippe.
This paper identifies market and commodity characteristics that seem to support successful cooperative bargaining in markets for farm output. Bargaining is not just about increasing prices paid to farmers; indeed, although there is very little empirical research that addresses the issue, what evidence does exist suggests that cooperative bargaining has very little direct influence on price. Nevertheless, the price negotiation process may be useful in itself as a form of price discovery in markets where there is uncertainty about market supply and demand conditions, and bargaining associations can play an important role in ensuring contract reliability. These and other benefits must be weighed against the organizational and ongoing operational costs of a...
Tipo: Working or Discussion Paper Palavras-chave: Agricultural markets; Cooperative bargaining; Imperfect competition; Marketing.
Ano: 2002 URL: http://purl.umn.edu/18526
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The Welfare Effects of Imperfect Harmonization of Trade and Industrial Policy AgEcon
Gatsios, Konstantine; Karp, Larry S..
Partial cooperation in setting trade policy may be worse than no cooperation for countries who form a customs union. The paper investigates three situations where this is likely to occur. First, if the countries forming the union comprise too small a percentage of the non-competitive sector of the industry, their cooperation may be disadvantageous for essentially the same reason that a merger may be disadvantageous in oligopolistic industries. Second, even if the countries forming the union comprise the entire non-competitive sector of industry, cooperation on trade policy may be disadvantageous if industrial policy (e.g. investment subsidies) are chosen non-cooperatively. The reason is that cooperation in trade policy may exacerbate the inefficiencies...
Tipo: Working or Discussion Paper Palavras-chave: Trade and industrial policy; Imperfect competition; Customs union; International Relations/Trade.
Ano: 1989 URL: http://purl.umn.edu/51256
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Measuring Competitiveness in Twos AgEcon
Cahill, Sean A..
Improvements in competitiveness can be achieved through policy initiatives, but the success of these policies will depend upon the way that firms and consumers respond. This paper establishes the conditions under which a policy change can lead to an improvement in the competitiveness of a Canadian firm. There are two firms (Canadian, U.S.) each with two brands and each making sales in two markets (Canada, U.S.) and two consumers, one in Canada and one in the U.S. Equilibrium is shown to depend on inverse compensated demand function coefficients, the conjectured best response coefficients for each firm and marginal cost functions for each firm. An improvement in competitiveness from an investment in public infrastructure in Canada is shown to depend upon...
Tipo: Working or Discussion Paper Palavras-chave: Competitiveness; Imperfect competition; Public infrastructure investment; Industrial Organization; International Relations/Trade; F12.
Ano: 2011 URL: http://purl.umn.edu/102038
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The Effects of ITQ Management on Fishermen’s Welfare When the Processing Sector is Imperfectly Competitive AgEcon
McEvoy, David M.; Brandt, Sylvia J.; Lavoie, Nathalie; Anders, Sven M..
In this paper we use a general model of imperfect competition to predict welfare changes within an open-access fishery transitioning to individual transferable quota (ITQ) management. Although related research has explored the effects of market power in the harvesting sector on ITQ performance, none have considered the implications of an imperfectly competitive processing sector. This study addresses this question specifically in the context of the Atlantic herring fishery, although its implications are relevant to all fisheries with similar industry structure. Our results show that ITQs could have a negative impact on fishermen’s welfare when processors have market power and the cap on aggregate harvest is binding or becomes binding with the...
Tipo: Working or Discussion Paper Palavras-chave: ITQ; Imperfect competition; Welfare analysis; Fisheries; Risk and Uncertainty; D43; Q22; Q28; L13.
Ano: 2007 URL: http://purl.umn.edu/7389
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The Effects of Vertical Organization on the Pricing of Differentiated Products AgEcon
Shi, Guanming; Chavas, Jean-Paul.
We investigate differentiated product pricing and the effects of vertical organization under imperfect competition. We rely on vertical measures of concentration (termed VHHI) to study how the exercise of market power varies with substitution/complementarity relationships among products and vertical structures. This approach is applied to U.S. soybean seed pricing under vertical integration versus licensing. We find evidence that vertical organization affects seed prices, with an impact ranging from 1.87% to 13.6% of the mean price. These effects vary by institutional setup.We also find that complementarity can mitigate price enhancements associated with market concentration.
Tipo: Article Palavras-chave: Biotechnology; Imperfect competition; Pricing; Seed; Soybean; Vertical structures; Demand and Price Analysis; Industrial Organization.
Ano: 2011 URL: http://purl.umn.edu/119157
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PUBLIC POLICY IN VERTICALLY RELATED MARKETS: A COURNOT OLIGOPOLY-OLIGOPSONY MODEL AgEcon
Desquilbet, Marion; Guyomard, Herve.
We use a partial equilibrium two-country model, with two vertically related markets, with perfect competition in the primary good sector and with a fixed number of processing firms in each country, characterized by a Cournot behavior upstream and downstream. In the first stage of the game, the government of the exporting country chooses the level of price instruments on both goods. The targeting principle is used to characterize optimal intervention in presence of a minimum revenue constraint towards primary producers. Keywords: vertically related markets, imperfect
Tipo: Conference Paper or Presentation Palavras-chave: Vertically related markets; Imperfect competition; Industrial Organization; International Relations/Trade; F1; H2; L1; Q1.
Ano: 1999 URL: http://purl.umn.edu/21561
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POLICY ANALYSIS IN AN IMPERFECTLY COMPETITIVE MARKET: A CONJECTURAL VARIATIONS MODEL FOR THE FOOD MANUFACTURING INDUSTRY AgEcon
Maier, Leopold.
The effects of government policies are analyzed in a conjectural variations model of U.S. food manufacturing. The policy elasticities of the perfectly competitive model are valid predictors of policy effects irrespective of the type of oligopoly. Changes in the degree of competition may alter the magnitude of the policy elasticities. Keywords: firm behavior, market structure, imperfect competition, conjectural variations model, policy analysis, food manufacturing
Tipo: Working or Discussion Paper Palavras-chave: Firm behavior; Market structure; Imperfect competition; Conjectural variations model; Policy analysis; Food manufacturing; Agribusiness; Research Methods/ Statistical Methods.
Ano: 1990 URL: http://purl.umn.edu/6878
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Grain Distribution in Ghana under Imperfectly Competitive Market Conditions AgEcon
Langyintuo, Augustine S..
Interspatial and intertemporal grain distribution in Ghana is a private sector activity carried out mainly by traders. These traders sometimes collude to maximize their joint profits. By so doing they influence the conduct of the grains market. To examine the effect of their actions on the informal maize market in Ghana, a spatial equilibrium model was estimated under three scenarios: (1) Perfect competition, (2) Cournot-Narsh conjectures, and (3) Collusion. The results indicate that imperfect competition distorts grain flows, reduces consumer welfare and depresses traders’ sales revenue. Collusive behavior of traders, on the other hand, causes the greatest distortion of grain flows as well as trader and consumer welfare. These results draw attention to...
Tipo: Journal Article Palavras-chave: Spatial equilibrium; Monopoly; Imperfect competition; Interspatial; Cournot- Narsh conjectures; Crop Production/Industries; D4; L1.
Ano: 2010 URL: http://purl.umn.edu/96166
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Noncompetitive Pricing and Exchange Rate Pass-Through in Mauritanian Octopus Export Markets AgEcon
Kazmierczak, Richard F., Jr.; Zapata, Hector O.; Diop, Hamady.
Octopus exports are an important source of foreign exchange for Mauritania. The export market has historically been dominated by coordinated Japanese buyers, a situation that led Mauritania to create the Societe Mauritanienne de Commercialisation de Poisson (SMCP) to negotiate with buyers and manage all octopus exports. Issues concerning competitiveness, price discrimination, and exchange rate pass-through in the Mauritanian octopus export market corrected for contemporaneous and serial correlation. Results indicate some degree of price discrimination across destination markets, market share enhancement through local currency price stabilization, and increases in marginal costs of production following nationalization of the Mauritanian trawler fleet. Thus,...
Tipo: Journal Article Palavras-chave: International trade; Exchange rates; Imperfect competition; Octopus fisheries; Agribusiness; Demand and Price Analysis; International Relations/Trade.
Ano: 1997 URL: http://purl.umn.edu/90407
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