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Registros recuperados: 25 | |
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Brümmer, Bernhard; Loy, Jens-Peter; Requate, Till. |
Since 2000 Germany has introduced a fairly unique market mechanism to trade milk quotas between dairy farms. The two major features are: (1) a quasi auctioning system that produces excess demands which are covered by state reserves free of charge and (2) a price band that is used to exclude highest bids. For both features an experimental design is developed to study the impact in reference to a regular seller’s sealed bid double auction. Results show that both treatments lead to significant misallocations. These are due to the direct impact of regulations and due to an imperfect adjustment of bidding functions. The major goal of the market design to reduce quota prices is reached, however, at significant trade losses. |
Tipo: Conference Paper or Presentation |
Palavras-chave: Livestock Production/Industries. |
Ano: 2011 |
URL: http://purl.umn.edu/114377 |
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Brümmer, Bernhard; Loy, Jens-Peter; Struve, Carsten. |
In this paper the newly established rules for trading milk quotas in Germany are analyzed. These regulations have been in force since April 2000. Following a brief historical review of the quota system, the major changes in economic incentives regarding trading milk and the expected welfare implications are derived. Next, the effects of the new trading rules on quota prices in comparison to a reference system (sealed bid double auction) are discussed. In the empirical part the significance of the theoretical effects is illustrated. Recent changes in the regulations for quota trade are shown to have little effect in terms of mitigating these problems. |
Tipo: Journal Article |
Palavras-chave: Rules for milk quota trading; Auctions; Agricultural and Food Policy; Financial Economics. |
Ano: 2003 |
URL: http://purl.umn.edu/97978 |
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Glauben, Thomas; Loy, Jens-Peter; Meyer, Jochen. |
In this paper the impact of the introduction of the Euro on the vertical price transmission in German food markets is analyzed. It is hypothesized that the presence of money illusion might have lead to higher real prices as a result of the Euro, and if so it must be accompanied with a higher margin between the respective wholesale and retail price. While generally studies focus on the behavior of average prices, in this study the reactions of individual retailers are investigated. For lettuce and chicken the vertical price relationships between retail and wholesale prices are estimated by an error correction approach, which is extended to test for structural breaks with a flexible time frame. The results indicate no impact of the Euro for most of the... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Marketing. |
Ano: 2004 |
URL: http://purl.umn.edu/20104 |
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Loy, Jens-Peter; Weaver, Robert D.. |
Retail pricing indicates many phenomena, such as sales or rigidities. A number of models have been proposed in particular to explain the occurrence of sales. Focussing on the market for fresh foods the model by Varian and the loss leader argument seem to be intuitively best fitting to the conditions in the fresh food market. From these models we derive several hypotheses that are tested for a unique data set of the German fresh food retail market The data set consists of weekly prices for ten food items in 131 grocery shops over the period from 1995 to 2000. The results support to some extent the Varian model and also indicate some dynamic loss leader pricing. However, rejections of some hypothesis provide some hints for successive models adjustments.... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Marketing. |
Ano: 2002 |
URL: http://purl.umn.edu/19787 |
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Glauben, Thomas; Loy, Jens-Peter. |
In this paper we applied two well known empirical models, the ‘pricing-to-market’ and the ‘residual demand elasticity’ approach, to test for market power of German food and beverage exporters on the main international markets (beer, cocoa powder, chocolate, and sugar confectionary). We compared the estimation results and considered the time series properties of the model variables, which both had an impact on the conclusions drawn from the model estimates. On many international food markets conditions for the existence of market power are fulfilled, such as concentrated supply and/or demand structures, or specific product qualities. For the products under study we have shown that the supply side is highly concentrated. For instance, for beer, cocoa powder,... |
Tipo: Journal Article |
Palavras-chave: Pricing to market; Residual demand elasticity; Market power; Food and beverage export markets; Agribusiness; Industrial Organization. |
Ano: 2001 |
URL: http://purl.umn.edu/98701 |
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Hedtrich, Friedrich; Loy, Jens-Peter; Muller, Rolf A.E.. |
Seit geraumer Zeit haben "Prediction Markets", auch "Prognosemärkte" oder "InformationsMärkte" genannt, ihre Nützlichkeit bei der Prognose von Wahlergebnissen, der Vorhersage von Absatzzahlen, von Abschlussterminen von Entwicklungsprojekten und vielen anderen Ereignissen und Entwicklungen bewiesen. Die Vorhersage zukünftiger Entwicklungen in der Land und Ernährungswirtschaft hat mit der zunehmenden Integration der EUMärkte in die Weltmärkte zugenommen. Nach einer kurzen Darstellung des Vorhersagebedarfs im Agribusiness wird anschließend das Funktionsprinzip eines "Prediction Markets" dargestellt und am Beispiel eines Prototyps zur Vorhersage von Milchquotenpreisen in Deutschland veranschaulicht. Die Prognose von Milchquotenpreisen ist insbesondere vor dem... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Agribusiness; Research Methods/ Statistical Methods; Prognosemärkte; Prognosemethoden; Agribusiness. |
Ano: 2009 |
URL: http://purl.umn.edu/53274 |
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Loy, Jens-Peter. |
The paper aims at analyzing the potentials for reducing income risk and income variation for slaughter hog producers in Germany and Holland by participating at futures markets in Amsterdam or Hannover. The relative market and hedging efficiency for the Amsterdam stock exchange markets is tested and the optimal hedge ratio is derived for minimizing risk and variance of slaughter hog gross margins (income). Relative market efficiency and a significant impact of hedging on income risk and variance can not be rejected. The results show that the optimal hedge ratio is smaller for variance compared to risk minimizing hedging strategy. |
Tipo: Conference Paper or Presentation |
Palavras-chave: Futures; Pigs; Market Efficiency; Hedging; Marketing. |
Ano: 2002 |
URL: http://purl.umn.edu/24849 |
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Loy, Jens-Peter; Weaver, Robert D.. |
Retail pricing strategies incorporate promotions, sales, and rigidities. A number of models have been proposed in particular to explain the occurrence of sales. Focussing on the market for fresh foods the model by Varian and the loss leader argument seem to be intuitively best fitting to the conditions in the fresh food market. From these models we derive several hypotheses that are tested for a unique data set of the German fresh food retail market. The data set consists of weekly prices for ten food items in 131 grocery shops over the period from 1995 to 2000. Following Varian sales should lead to reduced expenditures, while the loss leader argument assumes that consumers are lured into the shop by promotional sales which are covered by higher prices for... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Food Consumption/Nutrition/Food Safety; Marketing. |
Ano: 2003 |
URL: http://purl.umn.edu/25914 |
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Registros recuperados: 25 | |
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