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Registros recuperados: 92
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TESTING FOR MONOPSONY POWER IN MULTIPLE INPUT MARKETS: A NONPARAMETRIC APPROACH WITH APPLICATION TO CIGARETTE MANUFACTURING AgEcon
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
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Labeling Policies in Food Markets: Private Incentives, Public Intervention, and Welfare Effects AgEcon
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
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DISTINGUISHING THE SOURCE OF MARKET POWER: AN APPLICATION TO CIGARETTE MANUFACTURING AgEcon
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
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Issues in Modelling the Australian Dairy Industry: Joint Products, Market Power and Deregulation AgEcon
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
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Measuring Oligopsony Power of UK Salmon Retailers AgEcon
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
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Consumption Inertia and Asymmetric Price Transmission AgEcon
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
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Estimation of Political Oligopoly Power of Domestic Producers in the Korean Raw-Milk Market AgEcon
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
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An Analysis of the Banana Import market in the U.S. AgEcon
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
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MONOPSONY POWER IN MULTIPLE INPUT MARKETS: A Nonparametric Approach AgEcon
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
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Consequences of BSE disease outbreaks in the Canadian beef industry AgEcon
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
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ECONOMIC ANALYSIS OF THE PROPOSED NORTH DAKOTA WHEAT POOL AgEcon
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
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Sind die Pachten im Osten zu niedrig oder im Westen zu hoch? AgEcon
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
Registros recuperados: 92
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