Consulta: subjectFacets:"Market power"
Registros recuperados: 92
Data/hora: 10/06/2024 18:21:51

Collinearity in Linear Structural Models of Market Power
Provedor de dados: 31
Autores: Perloff,   Jeffrey M.; Shen,   Edward Z.
The well-known structural model used to estimate market structure suffers from a severe collinearity problem if the marginal cost and demand equations are linear.
Tipo: Working or Discussion Paper
Palavras-chave: Market power; Estimation; Demand and Price Analysis; Industrial Organization; L13; C1.
Ano: 2001
URL: http://purl.umn.edu/25012

The Evolution of Quantitative Food Marketing Policy: A Public Perspective
Provedor de dados: 31
Autores: Cotterill,   Ronald W.
Quantitative analysis of food marketing policy has played a critical role in the evolution of empirical industrial organization and antitrust enforcement over the past 40 years. This article highlights the contributions of the author and other agricultural economists. The second half of this article explains why an economist might want to do, or perhaps avoid, public policy work. It gives several examples from antitrust cases where economic policy analysis is a front-line contact sport.
Tipo: Article
Palavras-chave: Brand-level demand analysis; Expert economic testimony; Libel; Market power; Merger analysis; Price analysis; Reduced-form analysis; Industrial Organization; Marketing.
Ano: 2012
URL: http://purl.umn.edu/123309

LOOKING FOR GOVERNMENT'S ROLE AS AN AGRICULTURAL SAFETY NET
Provedor de dados: 31
Autores: Dorfman,   Jeffrey H.
What makes agriculture especially deserving of an active government safety net?  What is different about agricultural production? Are we concerned about a safe and reliable food supply or about farmers' incomes and returns to assets? Those who make farm policy base their arguments on all of these points: the diffuse nature of agricultural production, the inherent production risk in agriculture, the need for a safe and reliable food supply, shortcomings in farm income, and low returns to assets in agriculture. This paper addresses these points and, in so doing, rules out some of these concerns as legitimate bases for current agricultural policies. By focusing on those that are genuine, U.S. farm policy could spend limited resources in areas where the most...
Tipo: Journal Article
Palavras-chave: Agricultural policy; Farm income; Farm-sector safety net; Market power; Agricultural and Food Policy; Agricultural Finance.
Ano: 2000
URL: http://purl.umn.edu/14707

The Impact of Imports on Price-Cost Margins: An Empirical Illustration
Provedor de dados: 31
Autores: Lopez,   Rigoberto A.; Lopez,   Elena.
This article decomposes the impact of imports on domestic price-cost margins into separate price and cost effects.  Using data from 24 food-processing industries, the empirical results show that although the direct impact of imports on prices is always negative, a positive net impact on price-cost margins occurs in industries characterized by low own-price elasticity of demand and diseconomies of scale. Further results show that the disciplining effect of imports is more preponderant the lower the degree of domestic competition.
Tipo: Working or Discussion Paper
Palavras-chave: Market power; Imports; Market structure; International trade; Food industry; Agribusiness; Demand and Price Analysis; International Relations/Trade.
Ano: 2001
URL: http://purl.umn.edu/25153

The Portuguese Tomato Processing Sector: Market Structure, Concentration and Firm Behaviour
Provedor de dados: 31
Autores: Martins,   Maria De Fatima; De Oliveira,   Lorena.
The purpose of this paper is to study the evolution and the structure of the Portuguese processing tomato industry. We intend to pick up the dynamics, the strategic behaviour and structural the changes in the tomato industry in Portugal during the period of 1990-2005. An overview of world and domestic production and trade in the last two decades is followed by the descriptive analysis and by the development of the market structure. The market structure analysis was carried out during 1990 - 2002, under the Structure-Conduct-Performance framework. This paper examines the concentration effect on the performance and firm's strategy. The result indicates that, market concentration in tomato processing industry in quantity is a moderate concentrate market but...
Tipo: Conference Paper or Presentation
Palavras-chave: Tomato processing industry; Concentration; Firm Strategy; Market power; Competitiveness; Industrial Organization.
Ano: 2007
URL: http://purl.umn.edu/9445

COMPETITIVE BEHAVIOR IN THE FOOD RETAILING INDUSTRY
Provedor de dados: 31
Autores: Park,   Timothy A.; Weliwita,   Ananda.
We develop a flexible model to examine competitive conditions in the food retailing industry based on the Box-Cox transformation of the demand and industry equilibrium conditions.  The impact of key technological and market developments on shifts in the competitive index is examined.  Adoption of optical scanning technology was positively related to the market power index but the index was stable and consistent with competitive conditions over the 1982-1992 period.
Tipo: Working or Discussion Paper
Palavras-chave: Market power; Food retailing; Box-Cox model; Technological innovations; Agribusiness; Industrial Organization.
Ano: 1996
URL: http://purl.umn.edu/16680

The Dark Side of Coffee Market Power in the German Market for Roasted Coffee
Provedor de dados: 31
Autores: Koerner,   Julia.
Germany is the second important coffee market in the world, just overshadowed by the United States. Coffee is the most famous beverage in Germany - even more popular than beer. On the supply side dominate few roasters. Market structure influences the market outcome and explains the processors' ability to exercise market power. This paper aims at studying the pricing behavior in the German market for roasted coffee. Respectively, it discusses the impact of three different explanations. First, market power may be due to low price elasticity related to a high level of consumption. Second, pricing behavior may be influenced by the industry concentration. And finally, pricing behavior may be change over time due to exogenous shocks. In particular, the degree of...
Tipo: Conference Paper or Presentation
Palavras-chave: Market for roasted coffee; Germany; Elasticity of conjectural variation; Market power; Simultaneous equation system; GMM; Industrial Organization.
Ano: 2002
URL: http://purl.umn.edu/24969

ECONOMIC ANALYSIS OF THE PROPOSED NORTH DAKOTA WHEAT POOL; SUMMARY
Provedor de dados: 31
Autores: Koo,   Won W.; Nganje,   William E.; Johnson,   D. Demcey; Park,   Joon J.; Taylor,   Richard D.
The ND Durum Wheat Pool may provide additional revenue to durum wheat producers by raising the domestic prices in the North American market with full cooperation from the Canadian Wheat Board.  The pool also could provide additional revenue to its members by improving marketing efficiency.  On the other hand, the ND Spring Wheat Pool is less likely to provide additional revenue to spring wheat producers by raising domestic prices, mainly because hard red spring and winter wheat are highly substitutable.  Efficiency gains also could be smaller than for durum wheat.
Tipo: Working or Discussion Paper
Palavras-chave: Marketing pool; Market power; Efficiency gains; Durum wheat; Hard red spring wheat; Pool price; Organizational structure; Operating costs; Marketing.
Ano: 1999
URL: http://purl.umn.edu/23453

BSE Disease Outbreaks, Structural Change and Market Power in the Canadian Beef Industry
Provedor de dados: 31
Autores: Clark,   J. Stephen; Cechura,   Lukas; Berhanu,   Adugna.
This study examines farm to wholesale prices spreads to measure the impact of the Bovine Spongiform Encephalopathy (BSE) disease outbreak on the Canadian beef industry. The study uses structure break tests developed by Gregory and Hansen (1996) and Hansen (1992) examine possible breaks within cointegrating relationships. The study finds evidence that the industry began a realignment as a result of the UK BSE disease outbreak, and the Canadian BSE disease outbreak was simply the largest realignment of the process beginning with the UK disease outbreak. However, the only statistically significant break was the BSE disease outbreak itself in May 2003. Stability was not restored until the border was reopened in 2005. Specific results indicated that the...
Tipo: Working or Discussion Paper
Palavras-chave: BSE; Market power; Canada; Beef industry; Agribusiness; Industrial Organization; International Relations/Trade.
Ano: 2011
URL: http://purl.umn.edu/114097

Retail and Wholesale Market Power in Organic Foods
Provedor de dados: 31
Autores: Richards,   Timothy J.; Acharya,   Ram N.; Molina,   Ignacio.
The demand for organic fresh fruits and vegetable continues to grow at a rate far higher than the rest of the produce industry.  The cost of meeting organic certification standards, however, has meant that supply has been slow to adjust.  With limited supply, we hypothesize that organic suppliers enjoy more market power in bargaining over their share of the retail-production cost margin for fresh apples.  We test this hypothesis using a random parameters, generalized extreme value demand model (mixed logit) combined with a structural model of retail and wholesale pricing that allows conduct to vary by product attributes (organic or non-organic) and time. We find that organic growers do indeed earn a larger share of the total margin than non-organic...
Tipo: Conference Paper or Presentation
Palavras-chave: Organics; Market power; Mixed logit; Game theory; Non-linear pricing.; Industrial Organization; C35; D12; D43; L13; L41; Q13.
Ano: 2009
URL: http://purl.umn.edu/49329

Estimating the Degree of Buyers' Market Power: Evidence from the Ukrainian Meat Processing Industry
Provedor de dados: 31
Autores: Perekhozhuk,   Oleksandr; Matyukha,   Andriy; Glauben,   Thomas.
This study develops a structural market model for the econometric analysis of buyers’ market power in the Ukrainian meat processing industry, because there is some evidence that suggests that meat processors may excise market power in the agricultural market of slaughtered livestock. The estimation results did not produce any evidence suggesting the existence of buyers’ market power. Contrary to many other NEIO-studies, we extended the market structure market model by the three subsequent models. Using endogenously determined values for market power parameter, we found that meat processors concerning the buyers’ market for slaughtered livestock behave consistently with Cournot conjectures.
Tipo: Conference Paper or Presentation
Palavras-chave: Cournot competition; Market power; Meat processing industry; New empirical industrial organisation (NEIO); Ukraine; Livestock Production/Industries; Marketing.
Ano: 2011
URL: http://purl.umn.edu/114782

Competitive Analysis and Market Power of China’s Soybean Import Market
Provedor de dados: 31
Autores: Song,   Baohui; Marchant,   Mary A.; Reed,   Michael R.; Xu,   Shuang.
This research conducts a competitive structure analysis of the Chinese soybean import market which leads to the hypothesis that China’s soybean importers may have stronger market power in China’s soybean import market. Then, this research develops and simultaneously estimates a two-country partial equilibrium trade model to test U.S.-China market power of soybean trade. The empirical result supports our hypothesis that Chinese soybean importers have stronger market power relative to U.S. soybean exporters. This Chinese market power can be countered by U.S. and South American companies through developing new and expanding existing markets for soybeans throughout the world and investing in Chinese soybean storage and crushing capacity.
Tipo: Journal Article
Palavras-chave: Chinese soybean import market; Competitive structure analysis; Market power; Two-country partial equilibrium trade model; International Relations/Trade; Marketing; Research Methods/ Statistical Methods; Q10; Q12; Q17.
Ano: 2009
URL: http://purl.umn.edu/53744

Production Contracts and the Spot Market Price of Hogs
Provedor de dados: 31
Autores: Key,   Nigel D.
The increasing use of production contracts in the hog sector has reduced the number of spot market transactions, raised concerns about price manipulation and helped to spur legislation requiring price reporting by packers.  Using data from the 2002 and 2007 Censuses of Agriculture, this study looks for evidence of market manipulation by examining whether the local prevalence of contracting affects the average price received by independent producers.  The empirical approach uses a fixed-effects model to examine whether the change in the prevalence of contracting is correlated with the change in the spot market price received by individual farmers. This approach controls for unobservable time-invariant individual and county characteristics, such as product...
Tipo: Conference Paper or Presentation
Palavras-chave: Production contracts; Alternative marketing arrangements; Market power; Spot market price; Hogs; Agribusiness; Agricultural and Food Policy; Farm Management; Industrial Organization; Livestock Production/Industries; Marketing; Production Economics.
Ano: 2010
URL: http://purl.umn.edu/61020

U.S. FRESH PRODUCE MARKETS:  MARKETING CHANNELS, TRADE PRACTICES, AND RETAIL PRICING BEHAVIOR
Provedor de dados: 31
Autores: Dimitri,   Carolyn; Tegene,   Abebayehu; Kaufman,   Phillip R.
Retail consolidation, technological change in production and marketing, and growing consumer demand for produce have altered the traditional market relationships between producers, wholesalers, and retailers. Increasingly, produce suppliers are asked to provide additional marketing services and incentives in exchange for volume purchases and other commitments by buyers. This report synthesizes the results from a multiphase project that examined the dynamics of produce marketing, the produce shipper-retailer relationship, and how changes in the produce market affect the relative market influence of producers, retailers, and consumers.
Tipo: Working or Discussion Paper
Palavras-chave: Fresh fruits and vegetables; Fresh produce; Fresh produce marketing channels; Supermarket; Market power; Competition; Trading practices; Crop Production/Industries; Industrial Organization.
Ano: 2003
URL: http://purl.umn.edu/33907

Measuring market power in the Greek food and beverages manufacturing industry
Provedor de dados: 31
Autores: Rezitis,   Anthony N.; Kalantzi,   Maria A.
This paper measures the degree of market power of the Greek food and beverages manufacturing industry over the period 1983–2007 at the three-digit SIC level. The present study also estimates the “deadweight” loss and the reduction of consumers’ income due to the possible existence of market power in the Greek food and beverages manufacturing industry. Based on Bresnahan’s (1989) conjectural variation model, three different approaches are used to investigate competitive conditions of the Greek food and beverages manufacturing industry. The first approach assesses the extent of market power of the whole industry over the period 1983–2007; the second approach tests the degree of market power in each one of the nine sectors of the industry over the whole...
Tipo: Conference Paper or Presentation
Palavras-chave: Conjectural variation; Greek food and beverages manufacturing industry; Market power; Welfare losses; Agribusiness; D43; D60; L66; Q10.
Ano: 2011
URL: http://purl.umn.edu/114809

Pricing and Policy Problems in the Northeast Fluid Milk Industry
Provedor de dados: 31
Autores: Cotterill,   Ronald W.
This article documents the need for reform of milk pricing in the Northeast. The New York price gouging law can be recast as a fair share law. This new milk policy "kills two birds with one stone." It corrects regional inequities in raw milk pricing by reforming the pricing of milk at retail by limiting and redistributing excessive retail margins to farmers and consumers. The fair share policy relieves allocative price inefficiency, improves the performance of the federal milk market order pool, and improves the general performance of the Northeast dairy farming and fluid milk industries.
Tipo: Journal Article
Palavras-chave: Market power; Bargaining; Over-order premiums; Fair share pricing; Livestock Production/Industries.
Ano: 2006
URL: http://purl.umn.edu/10211

First filter test of market power in Finnish food retailing sector
Provedor de dados: 31
Autores: Niemi,   Jyrki S.; Xing,   Liu.
Buyer power and competition policy in food supply chains has emerged as an important economic issue and a highly sensitive item on the policy agenda all around the world. Claims that large retailers and food companies are depressing farm prices because of their market power have been made in many countries around the world (Swinnen and Vandeplas, 2009). Arising concentration of retailer sector increases the concern of existence and gradual growth of buyer power in this sector. The key reason is that the growing buyer power may have the effect of considerably distorting both retail and producer competition, and eventually it may damage economic welfare. In Finland, the increased concentration of the retail sector, with fewer outlets and the growth of the...
Tipo: Conference Paper or Presentation
Palavras-chave: Concentration; Market power; VECM; Agribusiness; Agricultural and Food Policy; Community/Rural/Urban Development; Food Consumption/Nutrition/Food Safety; Labor and Human Capital.
Ano: 2010
URL: http://purl.umn.edu/95336

Local Monopsony Power in the Market for Broilers - Evidence from a Farm Survey
Provedor de dados: 31
Autores: Key,   Nigel D.; MacDonald,   James M.
The exercise of monopsony power by broiler processing firms is plausible because production occurs within localized complexes, which limits the number of integrators with whom growers can contract.  In addition, growers face distinct hold-up risks as broiler production requires a substantial investment in specific assets and most production contracts do not involve long-term purchasing commitments by integrators. This paper provides an initial exploration of the links between the local concentration of broiler integrators and grower compensation under production contracts using data from the 2006 broiler version of USDA’s Agricultural Resource Management Survey.  Results of this preliminary study, which accounts for characteristics of the operation and...
Tipo: Conference Paper or Presentation
Palavras-chave: Poultry; Broilers; Market power; Monopsony; Production contracts; Livestock Production/Industries; Marketing.
Ano: 2008
URL: http://purl.umn.edu/6073

SPATIAL COMPETITION AND PRICING IN THE AGRICULTURAL CHEMICAL INDUSTRY:  EMPIRICAL EVIDENCE FROM GEORGIA
Provedor de dados: 31
Autores: Hall,   R. Lee; Dorfman,   Jeffrey H.; Gunter,   Lewell F.
Three models of spatial competition are tested on retail price data for the agricultural chemical industry.  Three empirical tests find no evidence of any spatial competition using data from sixty-five retailers and twelve different chemicals.  Demand and supply-side variables have statistically significant, but economically trivial impacts on retail chemical prices.  These results point to a virtually complete control of retail prices by the chemical manufacturers, likely through the rebate program they offer retailers.  The oligopoly structure of the chemical manufacturing industry makes such control possible.  The results suggest that consolidation of retailers or distributors will not have anti-competitive effects since price competition is essentially...
Tipo: Conference Paper or Presentation
Palavras-chave: Agricultural chemicals; Market power; Spatial competition; Industrial Organization.
Ano: 2003
URL: http://purl.umn.edu/18984

Imperfect competition in the fresh tomato industry
Provedor de dados: 31
Autores: 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

The Structural Change in the Supply Chain of Oil Palm – A Case of North Sumatra Province, Indonesia
Provedor de dados: 31
Autores: Nakajima,   Toru; Matsuda,   H.; Rifin,   Amzul.
In this paper, we analyze the structural change in the supply chain of oil palm in North Sumatra, Indonesia, especially after the financial crisis of the late 20th century. We first describe the past and present market structure and conduct of oil palm industries in North Sumatra with an industrial organization approach based on our field study. The analysis reveals that the supply chain of oil palm in North Sumatra has changed such that farmers had more power to determine FFB prices over crushing companies, especially from 2001 through 2004. However, farmers lost bargaining power during 2007-2008 due to a decrease in palm oil demand, plunging of palm oil prices, and a regulation imposed upon crushing companies by the Ministry of Agriculture. To analyze...
Tipo: Conference Paper or Presentation
Palavras-chave: Indonesian palm oil; Market power; Asymmetric Price Transmission (APT); (Momentum) Threshold Autoregressive ((M-)TAR) model.; Agribusiness; Agricultural and Food Policy; Community/Rural/Urban Development; Food Consumption/Nutrition/Food Safety; Labor and Human Capital.
Ano: 2010
URL: http://purl.umn.edu/95206

Market power: Modeling issues and identification problems. An investigation of selected Hungarian food chains
Provedor de dados: 31
Autores: Bakucs,   Lajos Zoltan; Ferto,   Imre; Hockmann,   Heinrich; Perekhozhuk,   Oleksandr.
In recent years increasing number of contractual arrangements in food chains are observed. There are several reasons for this phenomenon. Improving food quality often requires significant specific investments. Given high asset specificity, investors find it difficult to appropriate the returns on investment and thus have incentives to integrate. However, besides this transaction costs related argument, the ongoing vertical integration can result from structural developments in food chains which at different stages of the value chains, might hamper the proper functioning of markets. Using a unique, firm level dataset, in this paper we will focus on the latter issue. Due to its importance among various Hungarian value chains, we have selected the milk...
Tipo: Conference Paper or Presentation
Palavras-chave: Market power; Hungarian food chains.; Food Consumption/Nutrition/Food Safety.
Ano: 2009
URL: http://purl.umn.edu/57977

Marktmacht ausgewählter Branchen der deutschen Ernährungswirtschaft auf internationalen Märkten
Provedor de dados: 31
Autores: 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

Market Power and Shadow Prices for Nonrenewable Resources: An Empirical Dynamic Model
Provedor de dados: 31
Autores: Lin,   C.-Y. Cynthia; Zhang,   Wei.
This paper estimates a dynamic model of the world market for nine nonrenewable resources over the period 1970-2004, and tests whether the countries supplying a nonrenewable resource behaved as price-takers or oligopolists. The model generates estimates of the shadow price of the nine minerals with minimal functional form assumptions.  The results show that the countries supplying hard coal, lead, and oil behaved as oligopolists during the study period, while the world market for other nonrenewable resources could be characterized as perfectly competitive. The shadow prices do not increase monotonically, which is evidence for stock effects in extraction costs. The shadow prices of most minerals peaked between 1970 and 1980.
Tipo: Conference Paper or Presentation
Palavras-chave: Nonrenewable resources; Market power; Shadow price; Empirical dynamic model; Resource /Energy Economics and Policy; Q31; L13.
Ano: 2011
URL: http://purl.umn.edu/103397

The power of two: squaring off with Australia’s large supermarket chains
Provedor de dados: 31
Autores: Round,   David K.
The level and nature of competition in supermarket retailing in Australia has been hotly debated as a policy issue in recent times. The creeping acquisitions of smaller groups by Coles and Woolworths have led to several investigations amid claims that consumers will be disadvantaged by the growth of the two big chains. Yet little convincing evidence has been found to support these assertions. Although on occasions the big two may have used their power vertically to squeeze suppliers, consumers have experienced highly competitive retail markets. In this paper, it is argued that it is market conduct, not structure, that should be the prime focus of regulatory and policy interest, and that recent corporate activity may lead to a third force in supermarket...
Tipo: Journal Article
Palavras-chave: Competition; Market power; Mergers and acquisitions; Supermarkets; Agribusiness.
Ano: 2006
URL: http://purl.umn.edu/116860

The Predatory Impacts of the Ahold/Pathmark Offer to Buy the Big V ShopRite Supermarket Chain
Provedor de dados: 31
Autores: Cotterill,   Ronald W.
This paper presents a unique empirical analysis of Salop and Scheffman’s raising rival’s cost theory of predation. The cost efficiency of cooperative wholesaling organizations including the nations largest, Wakefern Food Corporation, are highly susceptible to throughput volume. The Royal Ahold/Pathmark offer to purchase Wakefern’s largest member via a bankruptcy proceeding that attempted to supercede its membership contract, if consummated, would have reduced Wakefern’s volume by 13 percent. It also would have triggered a domino effect of other member exits because it would have raised the costs of supplying remaining members. This report marshals the available empirical evidence to demonstrate that the predatory move by Royal Ahold and Pathmark would most...
Tipo: Working or Discussion Paper
Palavras-chave: Predation; Market power; Wholesale concentration; Cost efficiency; Industrial Organization.
Ano: 2002
URL: http://purl.umn.edu/25216

NONSTRUCTURAL AND STATISTICAL NONPARAMETRIC MARKET POWER TESTS: AN EMPIRICAL INVESTIGATION
Provedor de dados: 31
Autores: Noelke,   Corinna M.; Raper,   Kellie Curry.
We use Monte Carlo experiments to assess the accuracy of two nonstructural and two statistical nonparametric market power tests.  We implement these monopoly and monopsony market power tests using data from ten known market structures.  The objective is to determine which test is most able to distinguish between market structures.  The statistical nonparametric market power tests appear to be promising.
Tipo: Conference Paper or Presentation
Palavras-chave: Market power; Monte Carlo; Nonparametric; Nonstructural; Industrial Organization; Research Methods/ Statistical Methods.
Ano: 1999
URL: http://purl.umn.edu/21645

Measuring Market Power in the Ready-To-Eat Cereal Industry
Provedor de dados: 31
Autores: Nevo,   Aviv.
The ready-to-eat cereal industry is characterized by high concentration, high price-cost margins, large advertising to sales ratios, and numerous introductions of new products. Previous researchers have concluded that the ready-to-eat cereal industry is a classic example of an industry with nearly collusive pricing behavior and intense non-price competition. This paper empirically examines this conclusion. In particular, I estimate price-cost margins, but more importantly I am able empirically to separate these margins into three parts: (1) that which is due to product differentiation; (2) that which is due to multi-product firm pricing; and (3) that due to potential price collusion. The results suggest that given the demand for different brands of cereal,...
Tipo: Working or Discussion Paper
Palavras-chave: Discrete choice models; Random coefficients; Product differentiation; Ready-to-eat cereal industry; Market power; Price competition; Agribusiness; Demand and Price Analysis; Industrial Organization.
Ano: 1998
URL: http://purl.umn.edu/25164

MARKET POWER AND COST-EFFICIENCY EFFECTS OF THE MARKET CONCENTRATION IN THE U.S. NITROGEN FERTILIZER INDUSTRY
Provedor de dados: 31
Autores: Kim,   C.S.; Hallahan,   Charles B.; Taylor,   Harold; Schluter,   Gerald E.
This article examines the effects of increasing market concentration level in the U.S. nitrogen fertilizer industry.  Results indicate that the costs of market power are greater than the benefits of market concentration, in terms of manufacturing cost efficiency.  To provide a stable nitrogen fertilizer supply at a relatively low price, it may be necessary to control natural gas price and/or reduce new import barriers from Middle East and former member states of the Soviet Union, where low cost gas is produced as a byproduct.    Keywords:  Nitrogen fertilizer, oligopoly, economies of size, market power, cost-efficiency.
Tipo: Conference Paper or Presentation
Palavras-chave: Nitrogen fertilizer; Oligopoly; Economies of size; Market power; Cost-efficiency.; Marketing.
Ano: 2002
URL: http://purl.umn.edu/19674

Price and Cost Impacts of Concentration in Food Manufacturing Revisited
Provedor de dados: 31
Autores: Lopez,   Rigoberto A.; Liron-Espana,   Carmen.
This study estimates the elasticities of wholesale food prices, cost efficiency, and market power with respect to industrial concentration in 35 food processing industries, modifying the model of Lopez, Azzam, and Lirón-España (2002). In contrast to the results of their earlier analysis, findings of this study indicate that further increases in concentration would result in significant processing cost savings (and Lerner index increases) in nearly all industries and that output prices would decline in nearly 50% of the industries, although significantly so in only 20% of them. As industrial concentration rises, price declines occur in industries with low levels of concentration while price increases occur in highly concentrated industries.
Tipo: Journal Article
Palavras-chave: Cost efficiency; Food prices; Food processing; Industrial concentration; Market power; Marketing; Production Economics; Productivity Analysis.
Ano: 2005
URL: http://purl.umn.edu/59610

Vertical price transmission between market operators in Hungarian agricultural product chains
Provedor de dados: 31
Autores: Varga,   Tibor.
Price transmission studies related to the cointegration of price time series are a suitable means for studying market dominance at the various market levels in the food product chains. For this study a price transmission asymmetry study was carried out for 18 commercial food product chains. In this study a monthly price time series was used for the period 2001 to 2005. It was found that there is significant product variation in market dominance which spans the entire industry. However, the variation is not significantly linked to either sectors or vertical levels. At times it is unstable and can easily tilt toward the vertical partner level. Depending on price changes, it can also vary, which, in turn, reflects changes in weather conditions. Following a...
Tipo: Journal Article
Palavras-chave: Price transmission; Cointegration; Market power; Food product chain; Hungary; Demand and Price Analysis; Marketing.
Ano: 2007
URL: http://purl.umn.edu/47014

An Antitrust Economic Analysis of Stop &amp; Shop's Proposed Acquisition of the Big V Shop Rite Supermarket Chain
Provedor de dados: 31
Autores: Cotterill,   Ronald W.
In early 2002, the Royal Ahold subsidiary, Stop &amp; Shop Supermarkets, offered to purchase the Big V supermarket chain, which was in bankruptcy court after three successive, unsuccessful leveraged buyouts over the past ten years. At a later date, Pathmark Supermarkets joined the offer to purchase. Big V was Wakefern Food Corporation’s largest member. The acquisition was a horizontal merger in at least three local markets, Newburgh NJ, Poughkeepsie NY, and Trenton NJ.  This research was conducted for the Wakefern Food Corporation who provided much of the underlying data and information. We presented this report to the Bureau of Competition, Federal Trade Commission in March 2002 and to the New Jersey and New York Attorney Generals, Antitrust Section in...
Tipo: Working or Discussion Paper
Palavras-chave: Horizontal merger; Market power; Predation; Agribusiness; Industrial Organization.
Ano: 2002
URL: http://purl.umn.edu/25194

Spatial Competition and Market Power in Banking
Provedor de dados: 31
Autores: Richards,   Timothy J.; Acharya,   Ram N.; Kagan,   Albert.
Banks in non-metropolitan areas compete in a spatially-differentiated environment. Particularly with the advent of electronic banking services, however, there is some question as to how much market power is conferred by spatial separation from rivals. This paper estimates a structural model of the supply and demand of banking services in which pricing power is allowed to depend explicitly on the distance between rival banks. A spatial autoregressive econometric model shows that approximately 38.0% of economic surplus earned by firms in non-metropolitan banking in the upper midwest is due to spatial market power.
Tipo: Conference Paper or Presentation
Palavras-chave: Banking; Market power; Non-metropolitan markets; Spatial econometrics; Community/Rural/Urban Development; Financial Economics; C21; D43; G21; L13.
Ano: 2007
URL: http://purl.umn.edu/6566

Price distortions on the Hungarian raw milk market
Provedor de dados: 31
Autores: Voneki,   Eva; Hockmann,   Heinrich.
The paper attempts to identify the impact of market power in the Hungarian milk chain. Since the conventional conjectural variation approach provides suspicious results the incentives to collude are discussed in an alternative framework. It is argued that the high degree of market transparency, the high frequency of interaction, the low number of large firms which could actually influence market prices, the threat of severe sanctions due to the under-utilization of processing capacities as well as opportunistic behavior make collusive behavior more likely than competitive behavior. The empirical evidence for the period 1998 to 2006 supports this view.
Tipo: Conference Paper or Presentation
Palavras-chave: Market power; Dairy processing; Hungary; Industrial Organization; Q11; Q13.
Ano: 2009
URL: http://purl.umn.edu/51673

EVALUATING MERGERS IN FOOD INDUSTRIES UNDER PROCEDURES FOR LITIGATION OR REGULATION
Provedor de dados: 31
Autores: Coate,   Malcolm B.
Tipo: Conference Paper or Presentation
Palavras-chave: Mergers; Market power; Antitrust analysis; Agribusiness; Agricultural and Food Policy.
Ano: 1997
URL: http://purl.umn.edu/25938

STRUCTURE, BEHAVIOR, AND MARKET POWER IN AN EVOLUTIONARY LABOR MARKET WITH ADAPTIVE SEARCH
Provedor de dados: 31
Autores: Tesfatsion,   Leigh.
This study uses an agent-based computational labor market framework to undertake a systematic experimental investigation of the relationship between job capacity, job concentration, and market power.  Job capacity is measured by the ratio of total potential job openings to total potential work offers, and job concentration is measured by the ratio of work suppliers to employers.  For each setting of the capacity and concentration treatment factors, work suppliers and employers repeatedly seek preferred worksite partners based on continually updated expected utility, engage in efficiency-wage worksite interactions modelled as prisoner's dilemma games, and evolve their worksite behaviors over time.  The main finding is that job capacity consistently trumps...
Tipo: Working or Discussion Paper
Palavras-chave: Labor market dynamics; Market power; Job capacity; Job concentration; Adaptive search; Networks; Endogenous interactions; Agent-based computational economics; Evolutionary game; Labor and Human Capital.
Ano: 1999
URL: http://purl.umn.edu/18197

Market power and subsidies in the Indonesian palm oil industry
Provedor de dados: 31
Autores: Chalil,   Diana.
Cooking oil is known as an essential commodity in Indonesia. Having such an important role, the Indonesian government often interfered the cooking oil market to assure its price remain low. To do so, the government uses a subsidy policy as one of its instruments. A dynamic duopoly model is applied to evaluate the impact of subsidies given the structure of the industry. Estimation results suggest an evidence of both an increase in the consumer surplus but a decrease in aggregate welfare due to market power. A possible reason is proposed, but, in order to obtain a clear explanation, further research is required.
Tipo: Conference Paper or Presentation
Palavras-chave: Market power; Subsidy; Indonesian palm oil industry; Agricultural Finance; Crop Production/Industries; Demand and Price Analysis.
Ano: 2008
URL: http://purl.umn.edu/6022

The Transmission of Price Trends from Consumers to Producers and Tests of Market Power
Provedor de dados: 31
Autores: Lkassbi,   Driss; West,   Gale E.; Clark,   J. Stephen.
This study examines the competitiveness of four Canadian agricultural industries (eggs, milk, chicken and turkey) using a general equilibrium farm to retail pricing model developed by Wohlgenant (1989). The model generates retail and farm pricing equations that are estimated using maximum likelihood developed by Johansen (1992). The results indicate that in all cases, long-run constant returns is rejected, indicating market power within the Canadian retail to farm marketing sector. The model also finds more cointegrating vectors than predicted by theory, also inconsistent with competitive markets. Results are based on commercial disappearance as a proxy for consumer demand and therefore confounding between uncompetitive markets and quality differences may...
Tipo: Report
Palavras-chave: Market power; Food processing; Cointegration; Agribusiness; Agricultural and Food Policy; Consumer/Household Economics; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; D41; L66; Q13.
Ano: 2008
URL: http://purl.umn.edu/45497

Regional Policy in the Global Economy: Insights from New Economic Geography
Provedor de dados: 31
Autores: Ottaviano,   Gianmarco I.P.
So far the contribution of New Economic Geography (NEG) has been mainly positive. Normative analysis and policy implications have lagged behind. The reason is the fear of the consequences of taking too literally the neat structure of the models. Under this respect the somewhat incautious aim of this paper is precisely to take NEG models literally and ask what their exact policy implications are. This is viewed as a necessary though preliminary step towards bringing NEG insights to the policy domain.
Tipo: Working or Discussion Paper
Palavras-chave: Economic integration; Increasing returns to scale; Market power; Pecuniary externalities; Regional policy; Spatial economics; Political Economy.
Ano: 2002
URL: http://purl.umn.edu/26318

CONCENTRATION AND TECHNOLOGY IN AGRICULTURAL INPUT INDUSTRIES
Provedor de dados: 31
Autores: King,   John L.
Consolidation in the agricultural biotechnology industry can both enhance and dampen market competition. This report examines the causes and consequences of industry consolidation and its effect on market efficiency. In some cases, concentration realizes economies of scale, which can improve market efficiency by driving down production costs. The protection of intellectual property rights is integral to the agricultural biotechnology marketplace, stimulating research and development, investment, and the development of substitute markets. However, excessively broad intellectual property rights can hinder the market for innovation. Recent data on mergers, acquisitions, and strategic collaborations in the agricultural biotechnology industry, as well as the...
Tipo: Report
Palavras-chave: Industry concentration; Consolidation; Biotechnology; Market efficiency; Market power; Intellectual property rights; Agricultural input industries; Mergers; Acquisitions; Agribusiness; Industrial Organization.
Ano: 2001
URL: http://purl.umn.edu/33631

THE RELATIONSHIPS OF TRADE, ECONOMIC GROWTH, AND MARKET POWER: THE CASE OF RICE EXPORTING
Provedor de dados: 31
Autores: Kang,   Hyunsoo; Kennedy,   P. Lynn; Hilbun,   Brian M.
This paper aims to (1) analyze the relationship between rice exports and economic growth for the world’s top four exporting countries (Thailand, Vietnam, India, and the U.S) and (2) seek to determine to what extent market power affects a country’s economic growth. The main objective of this paper is to determine to what extent economic growth impacts a country’s rice exports as well as to what extent Foreign Direct Investment (FDI) impacts a country’s ability to export rice. This analysis also examines the impact of market power on economic growth. On the basis of these results, we examine the existence of market power in the international rice market with respect to rice supply, and moreover, propose that there is a bi-directional causality between the...
Tipo: Conference Paper or Presentation
Palavras-chave: Rice export; CR4; GDP; FDI; Market power; Trade; Export supply function; Community/Rural/Urban Development; International Relations/Trade.
Ano: 2008
URL: http://purl.umn.edu/46081

Market Power in the Corn Sector: How Does It Affect the Impacts of the Ethanol Subsidy?
Provedor de dados: 31
Autores: Saitone,   Tina L.; Sexton,   Richard J.; Sexton,   Steven E.
Market power is discussed in debates about subsidies for ethanol production. The structural conditions in the corn industry create a case for concerns about market power. We develop an analytical model for determining the production and price impacts and the distribution of benefits from the U.S ethanol subsidy when upstream sellers in the seed sector and downstream buyers in the processing sector may exercise market power. Results demonstrate that the impacts on prices and output are probably limited. Distribution impacts are much greater. Seed producers and corn processors with market power capture relatively large shares of subsidy benefits.
Tipo: Journal Article
Palavras-chave: Corn ethanol; Market power; Oligopoly; Oilopsony; Subsidy; Agricultural and Food Policy.
Ano: 2008
URL: http://purl.umn.edu/42457

Exclusivity of Agrifood Supply Chains: Seven Fundamental Economic Characteristics
Provedor de dados: 31
Autores: Sporleder,   Thomas L.; Boland,   Michael A.
The IFAMR is published by the International Food and Agribusiness Management Association. IFAMA. www.ifama.org
Tipo: Article
Palavras-chave: Agrifood supply chains; Exclusive economic characteristics; Risk; Market power; Globalization; Agribusiness; Demand and Price Analysis; Research and Development/Tech Change/Emerging Technologies; Risk and Uncertainty; Q130.
Ano: 2011
URL: http://purl.umn.edu/119969

SIMULATING THE EFFECTS OF DIFFERENTIATED PRODUCTS MERGERS: A PRACTITIONERS' GUIDE
Provedor de dados: 31
Autores: Werden,   Gregory J.
Tipo: Conference Paper or Presentation
Palavras-chave: Mergers; Market power; Antitrust analysis; Product differentiation; Agribusiness.
Ano: 1997
URL: http://purl.umn.edu/25942

AIDS Model Estimates of Food Demand and the Decline in Farm Value Shares
Provedor de dados: 31
Autores: Reed,   Albert J.
This study attempts to find empirical support for one or both of the above reasons for declining food budget shares. Estimates of a deflated-income AIDS model of food demand are compared to estimates of the corresponding nominal-income AIDS model with respect to their implications for declining farm value shares.
Tipo: Conference Paper or Presentation
Palavras-chave: Consumer Food Demand; Farm value shares; Market power; Demand and Price Analysis.
Ano: 2011
URL: http://purl.umn.edu/103549

Antitrust Analysis of Supermarket Retailing: Common Global Concerns that Play Out in Local Markets
Provedor de dados: 31
Autores: Cotterill,   Ronald W.
This paper reviews the basic antitrust standards for the supermarket industry including definition of product and geographic markets and the exercise of coordinated and unilateral market power. It surveys the structure-conduct-performance and the New Empirical Industrial Organization literature to highlight alternative tests for supermarket power. The focus is a supermarket chain’s ability to exercise buyer as well as seller power. Recent research on vertical pricing topics including noncompetitive pricing games, double marginalization, private labels, vertical foreclosure, vertical price leadership and price transmission expand the analysis to market channel pricing issues. The availability of comprehensive scanner data, new economic theory and extensive...
Tipo: Working or Discussion Paper
Palavras-chave: Market definition; Market power; Nash Bertrand conduct; Manufacturer Stackelberg conduct; Price cost margin; Market concentration; Price transmission rate; Agribusiness; Industrial Organization.
Ano: 2005
URL: http://purl.umn.edu/25184

Assessing Time-Varying Oligopoly and Oligopsony Power in the U.S. Paper Industry
Provedor de dados: 31
Autores: Mei,   Bin; Sun,   Changyou.
The U.S. paper industry has become increasingly concentrated and therefore been suspected of imperfect competition. In this study, the new empirical industrial organization approach is employed to measure the degree of oligopoly and oligopsony power in the U.S. paper industry simultaneously. The model is estimated by iterative three-stage least squares using annual data from 1955 to 2003. The results reveal that there has been significant oligopoly and oligopsony power in the U.S. paper industry, and the oligopoly power has been consistently lower than the oligopsony power.
Tipo: Journal Article
Palavras-chave: Market power; NEIO; Three-stage least squares; Time-varying parameters; Agribusiness; Environmental Economics and Policy; Land Economics/Use; Production Economics; L13; Q23.
Ano: 2008
URL: http://purl.umn.edu/47268

Does Vertical Integration Effect Market Power?  Evidence from U.S. Food Manufacturing Industries
Provedor de dados: 31
Autores: Bhuyan,   Sanjib.
Vertical Integration
Tipo: Journal Article
Palavras-chave: Food industries; Market power; Vertical integration; Vertical merger; Crop Production/Industries; Marketing; Production Economics; L13; L22; Q13.
Ano: 2005
URL: http://purl.umn.edu/43737

Measuring Market Power in the UK Retail Salmon Industry
Provedor de dados: 31
Autores: Fofana,   Abdulai; Jaffry,   Shabbar.
This paper presents an investigation into the market structure for three product types of salmon (smoked, fresh and whole salmon) in the UK retail market. Evidence of the potential for market power and pricing conduct is analysed using structural simultaneous system equations based on the Bresnahan (1982) model. The importance of the retail market is recognised given the dominance of supermarket chains which accounted for £1.6 billion sales of seafood and the share of about 87% of all seafood retail sales in 2004 as compared with only 16% in 1988. The results indicate that the system is well represented by the models and that the market is competitive for fresh fillets and whole salmon but retailers exert some market power for smoked salmon. The hypothesis...
Tipo: Working or Discussion Paper
Palavras-chave: Market power; Error correction model; Dynamic demand systems; Salmon; Marketing; JEL-1; JEL-J.
Ano: 2006
URL: http://purl.umn.edu/45873

ESTIMATING MARKET POWER AND PRICING CONDUCT IN A PRODUCT-DIFFERENTIATED OLIGOPOLY: THE CASE OF THE DOMESTIC SPAGHETTI SAUCE INDUSTRY
Provedor de dados: 31
Autores: Vickner,   Steven S.; Davies,   Stephen P.
This paper develops a simultaneous-equations panel data econometric model to obtain point estimates of market power and pricing conduct in a representative product-differentiated, oligopolistic food market.  The importance of this class of markets is recognized given its prevalence in the food and fiber system, especially for final consumer food products.  The $1.3 billion domestic spaghetti sauce industry is featured.  Although the results indicate firms exert limited market power, a portion of this power is derived from tacit price collusion.  A higher degree of price collusion was found among brands within a market segment than between segments.
Tipo: Journal Article
Palavras-chave: Market power; Oligopoly; Pricing conduct; Product differentiation; Marketing.
Ano: 1999
URL: http://purl.umn.edu/15137

STRUCTURAL CHANGE AND MARKET PERFORMANCE IN AGRICULTURE: CRITICAL ISSUES AND CONCERNS ABOUT CONCENTRATION IN THE PORK INDUSTRY
Provedor de dados: 31
Autores: Paarlberg,   Philip L.; Boehlje,   Michael; Foster,   Kenneth A.; Doering,   Otto C., III; Tyner,   Wallace E.
We have witnessed profound changes in the pork sector over the last several years. These involve integration and concentration that raise issues of competitiveness in both input and product markets as well as issues of who bears risk and who reaps rewards. We see clear evidence of increased concentration, by several measures, to the point where public vigilance is warranted. Two major policy options are anti-trust action and increasing the market power of hog producers through institutional arrangements new to the hog industry. Better information in specific areas of concern is needed before informed public policy can be made with respect to either policy option, and the option of increasing producer market power will require active public support.
Tipo: Working or Discussion Paper
Palavras-chave: Pork industry; Public policy; Pricing; Concentration; Market power; Vertical integration.; Agricultural and Food Policy; Industrial Organization.
Ano: 1999
URL: http://purl.umn.edu/28654

Dynamic Assessment of Bertrand Oligopsony in the U.S. Cattle Procurement Market
Provedor de dados: 31
Autores: Ji,   In Bae; Chung,   Chanjin.
The new empirical industrial organization approach with the Bertrand model is employed to measure the oligopsony market power in the U.S. cattle procurement market. The assumption of price competition (Bertrand model) based on the nature of cattle production such as cattle cycle and seasonality is used and compared to quantity competition (Cournot model). The empirical results show that the oligopsony market power exists in the U.S. cattle procurement market. The cattle cycle and seasonality affect the oligopsony market power and the cattle cycle causes the change of market power. However, concentration has a negative effect on the oligopsony market power.
Tipo: Conference Paper or Presentation
Palavras-chave: Cattle cycle; Concentration; Market power; NEIO; Oligopsony; Seasonality; Agribusiness; Demand and Price Analysis; Industrial Organization; Livestock Production/Industries; Marketing; Q13; L13; L16.
Ano: 2011
URL: http://purl.umn.edu/103558

Commodity Price Pass-Through in Differentiated Retail Food Markets
Provedor de dados: 31
Autores: Richards,   Timothy J.; Allender,   William J.; Pofahl,   Geoffrey M.
Prices for nearly all basic commodity rose at unprecedented rates throughout early 2008, only to fall nearly as fast as financial markets and global economies began to collapse.  Rising food prices in 2008 led to concerns that commodity price spikes would lead to more general food inflation, but by early 2009 interest focused more on the seeming inability of food prices to fall back down with commodity prices.  This study provides an empirical investigation into the pass-through of commodity prices to retail prices for two different types of food products: potatoes and fluid milk.  The results show that pass-through depends on the nature of the food in question, but is generally consistent with theoretical models of pricing by sellers of multiple,...
Tipo: Conference Paper or Presentation
Palavras-chave: Commodity prices; Conduct; Industrial organization; Inflation; Market power; Nested logit; Pass-through; Random parameters model; Consumer/Household Economics; Demand and Price Analysis; Industrial Organization; C35; D12; D43; L13; L41; Q13.
Ano: 2010
URL: http://purl.umn.edu/61187

Evaluating Traditional Share-Price and Residual Demand Measures of Market Power in the Catsup Industry
Provedor de dados: 31
Autores: Haller,   Lawrence E.; Cotterill,   Ronald W.
In this paper we specify a price determination model which can test both the traditional positive interbrand price – share hypothesis and the negative intrabrand relationship predicted by residual demand analysis.  We evaluate this relationship empirically using three-dimensional panel data from the catsup industry.  We find support for both hypothesized relationships, and conclude that market power exists in this industry.  Further, we conclude that the results depend critically on the characteristics of the data set to be analyzed.
Tipo: Working or Discussion Paper
Palavras-chave: Market power; Residual demand; Product differentiation; Demand and Price Analysis.
Ano: 1996
URL: http://purl.umn.edu/25193

Grocery Retailers' Dominant Role in Evolving World Food Markets
Provedor de dados: 31
Autores: Sexton,   Richard J.
Tipo: Journal Article
Palavras-chave: Market consolidation; Food retailers; Food quality; Vertical coordination; Supermarket; Market power; Farmer welfare; Agribusiness; International Relations/Trade; Q13; L13.
Ano: 2010
URL: http://purl.umn.edu/94763

Testing for Oligopoly Power in the Kenyan Seed Maize Processing Industry
Provedor de dados: 31
Autores: Nzuma,   Jonathan M.
In the recent past, the concentration of seed maize processing and marketing in Kenya has raised serious public concerns. The inability of this industry to ensure affordable prices of certified seed maize for the farming community has led policy makers to question its market behaviour. In spite of these concerns, the performance of agricultural markets in Kenya has received little attention. This study evaluates the market conduct of the industry using the New Empirical Institutional Organization framework and tests the hypothesis of price taking behaviour. A system of five equations was used to estimate conjectural variations elasticity while a Lerner index was constructed to measure market power using data from Kenya's Central Bureau of Statistics. The...
Tipo: Conference Paper or Presentation
Palavras-chave: Seed Maize; Market power; Lerner index; Oligopoly; Crop Production/Industries; Industrial Organization; D4; L66.
Ano: 2006
URL: http://purl.umn.edu/25591

Market Power and Relative Price Adjustment: Evidence from the UK
Provedor de dados: 31
Autores: Morgan,   C. Wyn; McCorriston,   Steve.
Empirical studies of price transmission often suggest that imperfect pass-through may be due to market power exerted by food retailers. However, these econometric studies essentially lack any formal basis for tying the role of market power with data comprising of retail and producer prices only. We show that if market power has an effect on the farm-retail margin, this determines the specification of the cointegrating relationship. To emphasise the relevance of the tests, we focus on results relating the UK beef sector and show that market power is likely to have played a role in determining the retail-farm price margin.
Tipo: Conference Paper or Presentation
Palavras-chave: Price adjustment; Market power; Demand and Price Analysis; Q11; L13.
Ano: 2005
URL: http://purl.umn.edu/24485

Retail Competition in the Milk Market in a U.S. Midwestern City
Provedor de dados: 31
Autores: Hovhannisyan,   Vardges; Gould,   Brian W.
The main goal of this manuscript is to explore the retailer conduct in the milk market in a U.S. Midwestern city, based upon a structural estimation of consumer milk demand and retailer optimality conditions. To model milk demand we rely upon the Almost Ideal Demand System, while allowing the retailer optimality conditions to cover a range of competitive scenarios from perfect competition to horizontal cartel. We employ a conjectural variation approach in the spirit of Newly Empirical Industrial Organization to study the competitive environment on the retail landscape.  We find that the retail market in question is far from being competitive, with the two major retailers being engaged in an oligopolistic competition. Furthermore, the private label milk...
Tipo: Conference Paper or Presentation
Palavras-chave: AIDS demand; Conjectural variation; Market power; Oligopolistic competition.; Demand and Price Analysis; Industrial Organization; D11; D12; D43; L13.
Ano: 2011
URL: http://purl.umn.edu/99281

Evaluating the Performance of U.S. Supermarkets: Pricing Strategies, Competition from Hypermarkets, and Private Labels
Provedor de dados: 31
Autores: Volpe,   Richard J., III.
This study draws upon literature from the fields of agricultural economics, industrial organization, and business to study the performance of supermarkets in the United States. The empirical work draws from a rich dataset on the characteristics of supermarkets across the U.S. to test several hypotheses. Supermarkets utilizing everyday low pricing operate more efficiently than those using other strategies. Stores increase their performance by using strategies of their closest competitors. Competition with hypermarkets results in decreased supermarket performance, especially for smaller stores. Increases in private label sales relative to national brand sales are not necessarily related to increased performance.
Tipo: Article
Palavras-chave: Food retail; Market power; Pricing strategies; Hypermarkets; Private labels; Supermarkets; Demand and Price Analysis; Industrial Organization; Institutional and Behavioral Economics; Marketing.
Ano: 2011
URL: http://purl.umn.edu/119159

Preventing Monopoly or Discouraging Competition? The Perils of Price-Cost Tests for Market Power in Electricity
Provedor de dados: 31
Autores: Brennan,   Timothy J.
Allegations of market power in wholesale electricity sales are typically tested using price-cost margins. Such tests are inherently suspect in markets-such as electricity-that are subject to capacity constraints. In such markets, prices can vary with demand while quantity, and thus cost measure, remain fixed. Erroneous conclusions are more likely when the proxy for marginal cost is the average operating cost of the marginal plant. Measured this way, high Lerner indexes are consistent with competitive behavior. Using this proxy to cap wholesale prices, as the U.S. Federal Energy Regulatory Commission has proposed, would discourage entry by making it impossible for peak power suppliers to recover capital costs. The wholesale electricity sector may be...
Tipo: Working or Discussion Paper
Palavras-chave: Market power; Electricity; Peak load pricing; Resource /Energy Economics and Policy; D42; L11; L51; L94.
Ano: 2002
URL: http://purl.umn.edu/10804

Food Retailers'  Pricing and Marketing Strategies, with Implications for Producers
Provedor de dados: 31
Autores: Sexton,   Richard J.; Xia,   Tian; Li,   Lan.
This paper examines grocery retailers' ability to influence prices charged to consumers and paid to suppliers. We discuss how retailer market power manifests itself in terms of pricing and marketing strategies by setting forth and offering evidence in support of eight "stylized facts" of retailer pricing and brand decisions. We argue that little, if any, of this behavior can be explained by a model of a competitive, price-taking retailer, but that most of the indicated behavior was also inconsistent with traditional models of market power. Finally, we discuss the impacts of aspects of this retailer behavior on the upstream farm sector.
Tipo: Journal Article
Palavras-chave: Grocery retailer; Market power; Price spread; Sales; Agribusiness; Marketing.
Ano: 2006
URL: http://purl.umn.edu/10213

Assessing Market Functioning: The Case of the Hungarian Milk Chain
Provedor de dados: 31
Autores: Hockmann,   Heinrich; Voneki,   Eva.
The paper discusses the impact of market power in the Hungarian milk chain. In a first step a vector error correction model is estimates to assess whether a domestic market for raw milk exists. Since the answer was positive we proceed by developing a structural market model of the Hungarian market for raw milk that is able to identify a possible affect of market power on resource allocation. A nonlinear 3SLS approach was applied to estimate the supply and the demand for raw milk. The results provide that despite the high concentration of in dairy processing the indications for market poser are rather limited. The “Bertrand like” equilibrium can be attributed to the low degree of capacity utilization in dairy processing and the marketing alternative of...
Tipo: Conference Paper or Presentation
Palavras-chave: Market power; Market integration; Dairy; Hungary.; Livestock Production/Industries; Marketing.
Ano: 2007
URL: http://purl.umn.edu/7805

Regulating Ports: competition in South Australian port services for grain
Provedor de dados: 31
Autores: Wilson,   Luke.
Certain port services, called Essential Maritime Services, are subject to price regulation in South Australia. The need for this regulation is now under review, involving a series of assessments of market structures and market power in port services. This paper proposes a framework for assessing market power in port services, to determine whether there is a prima facie case for regulation. Elements of the framework are applied to the grain industry, which is one of the major users of port services in South Australia.
Tipo: Conference Paper or Presentation
Palavras-chave: Ports; Market power; Grain; Crop Production/Industries; Production Economics.
Ano: 2003
URL: http://purl.umn.edu/58270

Potential HPAI Shocks and Welfare Implications of Market Power in the U.S. Broiler Industry
Provedor de dados: 31
Autores: Liang,   Jing; Fabiosa,   Jacinto F.; Jensen,   Helen H.; Miller,   Gay Y.
Recent outbreaks of highly pathogenic avian influenza (HPAI) in Asia, Europe, and Africa have caused severe impacts on the broiler sector through production losses, trade restrictions and negative shocks to demand. This study develops a multimarket econometric model that is the basis of simulations to assess the spread and market implications of a potential HPAI outbreak in U.S. broiler industry. It takes into account market power that might exist within the livestock and meat sectors and endogenizes the optimal production condition on the model system. The results imply that the HPAI shocks affect prices at different marketing levels unequally and change the price margins along the supply chain with the existence of market power. The change in the price...
Tipo: Conference Paper or Presentation
Palavras-chave: Animal disease; Broilers; HPAI; Market power; Meat market price margins; Agricultural and Food Policy.
Ano: 2010
URL: http://purl.umn.edu/61496

Concentração de mercado e poder de monopsônio na indústria brasileira de esmagamento de soja
Provedor de dados: 31
Autores: Carvalho,   Lucineia Hipolito de; Aguiar,   Danilo Rolim Dias de.
This study aims to analyze the impacts of changes in the structure of the Brazilian soybean crushing industry on the performance of the soybeans complex. It was verified that the trend of concentration in the soybean crushing industry, which had already been verified by previous paper carried out in the decade of 1990, intensified in the beginning of the decade of 2000. The results regarding market power gave support to the hypothesis of monopsony power usage in the purchases of soybeans from the farmers. The results suggest that the crushing firms have had the ability to use market power against soybean farmers. However, the fact that the use of market power has been restricted in the markets where there is excess capacity suggests that the use of market...
Tipo: Journal Article
Palavras-chave: Industrial Organization; Market power; Market concentration; Soybean industry.
Ano: 2005
URL: http://purl.umn.edu/56728

Strategic Vertical Pricing in the U.S. Butter Market
Provedor de dados: 31
Autores: Du,   Ying; Stiegert,   Kyle W.
This article develops a methodology for empirically analyzing vertically strategic interactions in a multi-level supply channel. The model is used to analyze the vertical channel for U.S. butter manufacturing and retailing.  Aggregating products to the firm level and using a nonlinear AIDS demand system under alternative strategic pricing assumptions is estimated using full information maximum likelihood (FIML) for seven geographic markets from 1998-2002.  The market demand for butter was found to very price elastic.  Furthermore, cross price elasticities between private labels and the two large national brands were also very elastic. The selected market structure was one indicating category profit maximization of national brands (separate from private...
Tipo: Conference Paper or Presentation
Palavras-chave: Vertical interaction; Market structure; Strategic pricing; Market power; AIDS model; Butter.; Agribusiness; Agricultural and Food Policy; Consumer/Household Economics; Demand and Price Analysis; Industrial Organization; L13; L22; L66.
Ano: 2009
URL: http://purl.umn.edu/51712

Agrifood safety standards, market power and consumer misperceptions
Provedor de dados: 31
Autores: Giraud-Heraud,   Eric; Grazia,   Cristina; Hammoudi,   Abdelhakim.
This paper analyzes how the implementation of a food safety standard affects firms’ strategic behaviour within the context of a food chain. We provide a formal analysis, which considers that the sanitary risk results from a strong heterogeneity of upstream production conditions and the final demand depends on consumers’ risk estimations (given that consumers may underestimate or, conversely, overestimate the sanitary risk).  We show how downstream (processing or retailing) firms may be prompted to play a positive role with respect to food safety, either by selecting only the safest upstream producers or by encouraging the improvement of suppliers’ production conditions.  When the degree of consumers’ risk misperception is relatively low, then a downstream...
Tipo: Conference Paper or Presentation
Palavras-chave: Food safety standards; Market power; Risk misperception; Food Consumption/Nutrition/Food Safety.
Ano: 2007
URL: http://purl.umn.edu/7849

Estimations of the price transmission and market power in canola export market: implication to canola import of Japan
Provedor de dados: 31
Autores: Nakajima,   Toru.
In this paper, I analyze the price transmission of canola, or low erucic acid rapeseed, in the international market and the market power of canola exporting countries over one of the major importing countries, Japan. Canola oil production in Japan is almost completely dependent on the canola imported from Canada and Australia. The export from Canada generally accounts for more than 80% in recent years. Does Canada exercise market power over Japan? Does Canada have more market power than Australia in the Japanese canola market? What strategies should Japan have on canola import? To answer these questions, firstly I conducted an empirical analysis of asymmetric price transmission (APT), in which the speed of adjustments of the output price after the input...
Tipo: Conference Paper or Presentation
Palavras-chave: Asymetric price transmission; TAR; Market power; Canola; International Relations/Trade.
Ano: 2011
URL: http://purl.umn.edu/100689

Issues in evaluating generic promotion in the food chain
Provedor de dados: 31
Autores: Goddard,   Ellen W.; Freebairn,   John W.; Griffith,   Garry R.
Some issues in the evaluation of generic promotion have received relatively little attention. The agricultural economics literature on brand versus generic advertising is often simple empirically and has not related well to the burgeoning marketing literature on brand/private label strategies. Conversely, that literature does not often consider the implication of the strategies for any but consumers, processors and retailers. Thus, there is a significant gap in terms of branding strategy implications for farmers, in spite of the fact that many farm groups and co-operatives feel that this should be their main marketing goal. This issue becomes more relevant for exporting countries such as Australia given the requirement for country-of-origin labelling in...
Tipo: Conference Paper or Presentation
Palavras-chave: Generic promotion; Brand promotion; Private label; Market power; Agribusiness; Marketing.
Ano: 2003
URL: http://purl.umn.edu/57871

Measuring the Intensity of Competition in the Japanese Beef Market
Provedor de dados: 31
Autores: Reed,   Michael R.; Saghaian,   Sayed H.
A residual demand model for beef exports to Japan is specified and estimated. The objective is to estimate the extent of market power. It is assumed that each exporting country faces a downward-sloping residual demand curve, which reflects the market demand minus the supplies of competitors, and that exporters maximize profit through their output decisions. The analysis is disaggregated by beef cut and form to capture the variation by beef market segments. The results indicate that the highest markup of price over marginal cost belongs to U.S. frozen ribs, the only indication of market power by U.S. exporters. Canada is found to have limited market power, whereas Australia and New Zealand enjoy some market power, including five chilled beef categories.
Tipo: Journal Article
Palavras-chave: Beef; Japan; Market power; Market share; Residual demand; F12; L13; Q17.
Ano: 2004
URL: http://purl.umn.edu/42942

Dynamic Assessment of Oligopoly, Oligopsony Power, and Cost Efficiency using the New Empirical Industrial Organization in the U.S. Beef Packing Industry
Provedor de dados: 31
Autores: Ji,   In Bae; Chung,   Chanjin.
In this paper, the new empirical industrial organization approach with a dynamic model is simultaneously employed to measure the degree of oligopoly, oligopsony power, and cost efficiency in the U.S. beef packing industry. The oligopsony power is estimated with two effects: cash cattle procurement market power and captive supply market power. The model is estimated by the Generalized Method of Moments using monthly data from 1990 to 2006. The empirical results reveal the presence of market power in both the beef retail market and the cattle procurement market in the sample period. The captive supply is a source of oligopsony market power, but the effect is considerably small. The oligopsony market power is greater and less stable than oligopoly market...
Tipo: Conference Paper or Presentation
Palavras-chave: Beef packing industry; Captive supply; Cost efficiency; Industrial concentration; Market power; NEIO; Agricultural and Food Policy; Industrial Organization; Livestock Production/Industries; Marketing; Q13.
Ano: 2010
URL: http://purl.umn.edu/61641

MEASURING MARKET POWER USING DISCRETE CHOICE MODELS OF DEMAND: AN APPLICATION TO THE READY-TO-EAT CEREAL INDUSTRY
Provedor de dados: 31
Autores: Nevo,   Aviv.
Tipo: Conference Paper or Presentation
Palavras-chave: Market power; Consumer demand; Cereal industry; Demand and Price Analysis.
Ano: 1997
URL: http://purl.umn.edu/25944

Price Discrimination and Market Power in Export Markets: The Case of the Ceramic Tile Industry
Provedor de dados: 31
Autores: Requena Silvente,   Francisco.
This paper combines the pricing-to-market equation and the residual demand elasticity equation to measure the extent of competition in the export markets of ceramic tiles, which has been dominated by Italian and Spanish producers since the late eighties. The findings show that the tile exporters enjoyed substantial market power over the period 1988-1998, and limited evidence that the export market has become more competitive over time.
Tipo: Journal Article
Palavras-chave: Price discrimination; Market power; Export markets; Ceramic tile industry; F14; L13; L61.
Ano: 2005
URL: http://purl.umn.edu/37143

WELFARE LOSSES UNDER ALTERNATIVE OLIGOPOLY REGIMES: THE U.S. FOOD AND TOBACCO MANUFACTURING INDUSTRIES
Provedor de dados: 31
Autores: Bhuyan,   Sanjib; Lopez,   Rigoberto A.
This article systematically estimates the allocative efficiency losses in the U.S. food and tobacco manufacturing industries under alternative oligopoly pricing regimes using a formal model of oligopoly. Using 1987 data for 44 industries and an industry-wide oligopoly pricing scheme, these losses were estimated at approximately 3% of sales--2% in the food industries and 19% in the tobacco industries. Five additional oligopoly pricing regimes, four of which are price leaderships, are simulated and their results compared and tested relative to the industry-wide pricing regime. Findings underscore the importance of cost structure assumptions and that the impact of the type of oligopoly behavior assumed is not as dramatic when differences in demand and cost...
Tipo: Journal Article
Palavras-chave: Food and tobacco industries; Market power; Welfare loss; Industrial Organization.
Ano: 1995
URL: http://purl.umn.edu/15269

Testing for Market Power in the Australian Grains and Oilseeds Industries: Further Results
Provedor de dados: 31
Autores: O'Donnell,   Christopher J.; Griffith,   Garry R.; Nightingale,   John J.; Piggott,   Roley R.
Recent empirical studies have found significant evidence of departures from competition in the input side of the bread, breakfast cereal and margarine end-product markets. In this study we specify a general duality model of profit maximisation that allows for imperfect competition in the input and output markets of the grains and oilseeds industries. The model allows for variable-proportions technologies and can be regarded as a generalisation of several models appearing in the agricultural economics and industrial organisation literatures. Aggregate Australian data are used to implement the model for thirteen grains and oilseeds products handled by seven groups of agents. The model is estimated in a Bayesian framework. Results are reported in terms of...
Tipo: Conference Paper or Presentation
Palavras-chave: Market power; Conjectural elasticities; Grains and oilseeds; Crop Production/Industries; Production Economics.
Ano: 2003
URL: http://purl.umn.edu/57930

MARKET POWER AND EFFICIENCY IN A COMPUTATIONAL ELECTRICITY MARKET WITH DISCRIMINATORY DOUBLE-AUCTION PRICING
Provedor de dados: 31
Autores: Tesfatsion,   Leigh; Petrov,   Valentin; Nicolaisen,   James.
This study reports experimental market power and efficiency outcomes for a computational wholesale electricity market operating in the short run under systematically varied concentration and capacity conditions.  The pricing of electricity is determined by means of a clearinghouse double auction with discriminatory midpoint pricing.  Buyers and sellers use a modified Roth Erev individual reinforcement learning algorithm to determine their price and quantity offers in each auction round.  It is shown that high market efficiency is generally attained, and that market microstructure is strongly predictive for the relative market power of buyers and sellers independently of the values set for the reinforcement learning parameters.  Results are briefly compared...
Tipo: Working or Discussion Paper
Palavras-chave: Wholesale electricity market; Restructuring; Repeated double auction; Market power; Efficiency; Concentration; Capacity; Individual reinforcement learning; Genetic algorithm social learning; Agent-based computational economics; Industrial Organization.
Ano: 2000
URL: http://purl.umn.edu/18195

Price Transmission, Market Power and Returns to Scale
Provedor de dados: 31
Autores: Wang,   Xiuqing; Weldegebriel,   Habtu T.; Rayner,   Anthony J.
In this paper, we aim to model the vertical relation between retailers and suppliers in the food industry whereby retailers exercise seller power in their relation with consumers and buyer power in their relation with producers. We then evaluate the degree of price transmission, relative to the perfectly competitive benchmark, from the farm to the retail sector assuming a supply shock. With the view to evaluating the impact of market power's interaction with industry technology on the degree of price transmission, we assume industry technology to be characterised by variable input proportions and non-constant returns to scale. Our model predicts that, relative to that which obtains when markets are perfectly competitive and industry technology is...
Tipo: Working or Discussion Paper
Palavras-chave: Price transmission; Returns to scale; Market power; Demand and Price Analysis; Marketing; L11; Q13.
Ano: 2006
URL: http://purl.umn.edu/46004

World Markets of Vertically Differentiated Agricultural Commodities: A Case of Soybean Markets
Provedor de dados: 31
Autores: Yamaura,   Koichi; Xia,   Tian.
Replaced with revised version of poster 07/21/11.
Tipo: Conference Paper or Presentation
Palavras-chave: Vertical product differentiation; Market power; GM; Non-GM; Soybean; Industrial Organization; International Relations/Trade; L1.
Ano: 2011
URL: http://purl.umn.edu/103757

ESTIMATING MARKET POWER BY RETAILERS IN THE ITALIAN PARMIGIANO REGGIANO AND GRANA PADANO CHEESE MARKET
Provedor de dados: 31
Autores: Sckokai,   Paolo; Soregaroli,   Claudio; Moro,   Daniele.
In this paper, we evaluate the role of market power by retailers within the supply chain of Parmigiano Reggiano and Grana Padano, the two most famous Italian quality cheeses. Market power is analysed in the context of an imperfect competition model of the supply chain, in which retailers are allowed to exercise market power both downstream and upstream. We jointly estimate market power parameters together with supply and demand elasticities, by means of a  structural system of demand, supply and price transmission equations, estimated using the Generalised Method of Moments. We find clear evidences of downstream market power by retailers (toward final consumers), and no evidences of upstream market power (toward processors/ripeners). These results may be...
Tipo: Conference Paper or Presentation
Palavras-chave: Market power; Imperfect competition; PDO cheese; Agricultural and Food Policy; Industrial Organization; Q13.
Ano: 2009
URL: http://purl.umn.edu/51425

Structural Change and Competition in Seven U.S. Food Markets
Provedor de dados: 31
Autores: Reed,   Albert J.; Clark,   J. Stephen.
Recent trends in mergers and acquisitions in the U.S. food sector –food manufacturers, wholesalers, and retailers  raise concerns about market power. In the presence of market power, farmers may receive lower than competitive farm prices, and consumers may pay higher than competitive retail prices. This study presents empirical tests of market power at the national level for seven food categories: beef, pork, poultry, eggs, dairy, fresh fruit, and fresh vegetables. At the national level, our tests provide evidence of competitive conduct in both the sale of final food products and the purchase of farm ingredients.
Tipo: Report
Palavras-chave: Retail food and farm prices; Market power; Structural change; Cointegration; Agribusiness; Industrial Organization.
Ano: 2000
URL: http://purl.umn.edu/33558

TESTING FOR MONOPSONY POWER IN MULTIPLE INPUT MARKETS:  A NONPARAMETRIC APPROACH WITH APPLICATION TO CIGARETTE MANUFACTURING
Provedor de dados: 31
Autores: Raper,   Kellie Curry; Love,   H. Alan.
Monopsony power by cigarette manufacturers in procuring domestic and imported tobacco is investigated using a nonparametric method previously developed by Love and Shumway.  Their test is extended to assess monopsony market power in multiple input markets.  Results indicate that cigarette manufacturers exert significant monopsony power in the domestic tobacco market and exert little monopsony power in the international tobacco market.
Tipo: Working or Discussion Paper
Palavras-chave: Market power; Tobacco; Nonparametric; Monopsony.; Agribusiness; L1.
Ano: 1998
URL: http://purl.umn.edu/23966

Labeling Policies in Food Markets: Private Incentives, Public Intervention, and Welfare Effects
Provedor de dados: 31
Autores: Zago,   Angelo M.; Pick,   Daniel H.
This study considers the welfare impact of labeling policies of agricultural commodities with specific characteristics. Using a model of vertical differentiation, the effects on equilibrium and welfare levels are calculated. The introduction of the regulation and the emergence of two differentiated competitive markets leaves consumers and high-quality producers better off, while low-quality producers are worse off. With high costs and low quality differences, the total welfare impact of the regulation can be negative. Findings show that when high-quality producers can exercise market power, the regulation could be more easily accepted by producers, but it would have a negative effect on consumers.
Tipo: Journal Article
Palavras-chave: Asymmetric information; Food markets; Labeling; Market power; Vertical differentiation; Welfare effects; Agricultural and Food Policy.
Ano: 2004
URL: http://purl.umn.edu/31143

DISTINGUISHING THE SOURCE OF MARKET POWER: AN APPLICATION TO CIGARETTE MANUFACTURING
Provedor de dados: 31
Autores: Raper,   Kellie Curry; Love,   H. Alan; Shumway,   C. Richard.
We compare nonparametric and nonstructural market power tests using data from the cigarette manufacturing industry.  Tests are implemented to examine both monopoly and monopsony power exertion by cigarette manufacturers.  Results indicate that market power in the tobacco industry, previously attributed to monopoly power exertion, should at least in part be attributed to monopsony market power in the upstream tobacco market.
Tipo: Working or Discussion Paper
Palavras-chave: Market power; Nonparametric; Nonstructural; Monopsony; Monopoly; Cigarette manufacturing; Agribusiness.
Ano: 1998
URL: http://purl.umn.edu/24021

Issues in Modelling the Australian Dairy Industry: Joint Products, Market Power and Deregulation
Provedor de dados: 31
Autores: MacAulay,   T. Gordon; Owen,   Kate M.; O'Donnell,   Christopher J.
This paper reports on an expanded and revised version of the spatial equilibrium model of the Australian dairy industry developed by MacAulay (1997). In the expanded version there is demand for five manufactured products. The transformation from bulk milk to final product is modelled by considering milk and dairy products in terms of their primary components, milk fat and protein. For market milk, a variable element was added to the margin to replicate the effects of market power in the processor to retail chain. Some implications for the deregulation of the Australian dairy industry are noted.
Tipo: Presentation
Palavras-chave: Spatial equilibrium models; Joint production; Market power; Dairy; Livestock Production/Industries; Marketing.
Ano: 1999
URL: http://purl.umn.edu/123833

Measuring Oligopsony Power of UK Salmon Retailers
Provedor de dados: 31
Autores: Fofana,   Abdulai; Jaffry,   Shabbar.
A significant increase of concentration in the UK salmon retail subsector has heightened concerns about retail firms’ ability to exercise market power in the purchase of supplies (oligopsony power). To assess the extent to which retail firms have exercised oligopsony power, we develop a dynamic error correction translog profit function to model the behaviour of retailers in the input market for smoke, fillet and whole salmon. Initial estimates indicated violations of monotonicity and convexity conditions as implied by economic theory. In order to ameliorate the problem, a Bayesian technique was used to impose inequality restrictions to correct the anomaly. The final estimated indices of market power in the models were low and statistically significant but...
Tipo: Working or Discussion Paper
Palavras-chave: Salmon; Market power; Error correction model; Translog profit function; Food Security and Poverty; JEL-I; JEL-J.
Ano: 2008
URL: http://purl.umn.edu/61116

Consumption Inertia and Asymmetric Price Transmission
Provedor de dados: 31
Autores: Xia,   Tian; Li,   Xianghong.
We propose consumption inertia as a new explanation for asymmetric price transmission. Inertia in consumer demand enlarges retailers’ gains in gross profits from raising prices in response to higher wholesale prices and reduces gains from decreasing prices in response to lower wholesale prices. Thus, consumption inertia can cause asymmetries in price transmission whereby retailers are more willing to change their prices, and change them more quickly, in response to wholesale price increases as opposed to wholesale price decreases.
Tipo: Journal Article
Palavras-chave: Asymmetric price transmission; Consumption inertia; Market power; Retail pricing; Demand and Price Analysis.
Ano: 2010
URL: http://purl.umn.edu/93210

Estimation of Political Oligopoly Power of Domestic Producers in the Korean Raw-Milk Market
Provedor de dados: 31
Autores: Jeon,   Sang-Gon.
This paper estimates the political oligopoly power of domestic raw-milk producers in the Korean dairy market. Domestic raw-milk price for fluid use is decided exogenously by the government. The government announces the reference price of raw-milk price for fluid use to protect the domestic raw-milk producers from the potential market power of domestic dairy processors, because historically many small-sized domestic producers are a relatively weaker group than domestic processors. Here, this study has two questions: one is about how effectively the government protects the producers and the other is about how much the producers exert their political power against the government to raise the reference price in this process. Furthermore, this paper also tests...
Tipo: Journal Article
Palavras-chave: Political power; Market power; Dairy; Milk; Korea; Agribusiness; Agricultural and Food Policy; Community/Rural/Urban Development; Food Consumption/Nutrition/Food Safety; Marketing.
Ano: 2008
URL: http://purl.umn.edu/45681

An Analysis of the Banana Import market in the U.S.
Provedor de dados: 31
Autores: Su,   Chia-Hsien; Ishdorj,   Ariun; Leatham,   David J.
Tipo: Working or Discussion Paper
Palavras-chave: Demand; Banana; Import; Market power; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety.
Ano: 2011
URL: http://purl.umn.edu/98847

MONOPSONY POWER IN MULTIPLE INPUT MARKETS: A Nonparametric Approach
Provedor de dados: 31
Autores: Raper,   Kellie Curry; Love,   H. Alan.
Cigarette manufacturers' monopsony power exertion in procuring domestic and imported tobacco is investigated using nonparametric methods.  While it is often assumed that tobacco program rents are captured by growers, results indicate the opposite actually occurs.  Cigarette manufacturers appear to exert significant monopsony power in the domestic leaf tobacco market and capture a large portion of program rents.  Cigarette manufacturers appear to exert monopsony power of much smaller magnitude in the international leaf tobacco market, but with increasing magnitude in more recent years.
Tipo: Working or Discussion Paper
Palavras-chave: Market power; Tobacco; Nonparametric; Monopsony; Imports.; International Relations/Trade; L1.
Ano: 1999
URL: http://purl.umn.edu/11656

Consequences of BSE disease outbreaks in the Canadian beef industry
Provedor de dados: 31
Autores: Stephen Clark,   J.; Cechura,   Lukas.
This study examines farm to wholesale prices spreads to measure the impact of the BSE disease outbreak on the Canadian beef industry. The study uses structure break tests developed by Gregory and Hansen (1996) and Hansen (1992) examine possible breaks within co integrating relationships. The study finds evidence that the industry began realignment as a result of the UK BSE disease outbreak, and the Canadian BSE disease outbreak was simply the largest realignment of the process beginning with the UK disease outbreak. However, the only statistically significant break was the BSE disease outbreak itself in May 2003. Stability was not restored until the border was reopened in 2005. Specific results indicated that the processing sector exploited the border...
Tipo: Journal Article
Palavras-chave: Beef industry; Price transmission; BSE; Market power; Parameter instability; Cointegration with structural break; Agribusiness; Agricultural and Food Policy; Agricultural Finance; GA; IN.
Ano: 2011
URL: http://purl.umn.edu/102490

ECONOMIC ANALYSIS OF THE PROPOSED NORTH DAKOTA WHEAT POOL
Provedor de dados: 31
Autores: Koo,   Won W.; Nganje,   William E.; Johnson,   D. Demcey; Park,   Joon J.; Taylor,   Richard D.
The ND Durum Wheat Pool may provide additional revenue to durum wheat producers by raising the domestic prices in the North American market with full cooperation from the Canadian Wheat Board.  The pool also could provide additional revenue to its members by improving marketing efficiency.  On the other hand, the ND Spring Wheat Pool is less likely to provide additional revenue to spring wheat producers by raising domestic prices, mainly because hard red spring and winter wheat are highly substitutable.  Efficiency gains also could be smaller than for durum wheat.
Tipo: Working or Discussion Paper
Palavras-chave: Marketing pool; Market power; Efficiency gains; Durum wheat; Hard red spring wheat; Pool price; Organizational structure; Operating costs; Marketing.
Ano: 1999
URL: http://purl.umn.edu/23173

Sind die Pachten im Osten zu niedrig oder im Westen zu hoch?
Provedor de dados: 31
Autores: Margarian,   Anne.
Zusammenfassung: Die Pachtpreise für Land in den neuen Bundesländern Deutschlands liegen deutlich unter denen im früheren Bundesgebiet. Im vorliegenden Bericht wird diskutiert, in wie weit das durch Skaleneffekte, die Marktmacht großer Betriebe, staatliche Regulationen der Pachtmärkte im Osten und/oder einen verzögerten Agrarstrukturwandel im Westen erklärt werden kann. Das Schätzmodell auf Landkreisebene zeigt einen nicht-linearen Zusammenhang zwischen den Erklärungsgrößen und den Pachtpreisen. Darüber hinaus spielt im Osten die Betriebsstruktur in der Erklärung der Pachtpreise eine untergeordnete Rolle, während die relative Immobilität der Betriebe im Westen zumindest teilweise die "zu hohen" Pachtpreise dort erklärt....
Tipo: Report
Palavras-chave: Bodenmarkt; Agrarstrukturwandel; Marktmacht; Land market; Structural change; Market power; Demand and Price Analysis; Farm Management; Land Economics/Use; Q15; Q31; L11; D43; D51.
Ano: 2008
URL: http://purl.umn.edu/104609