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| Registros recuperados: 25 | |
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| Brümmer, Bernhard; Loy, Jens-Peter; Requate, Till. |
| Since 2000 Germany has introduced a fairly unique market mechanism to trade milk quotas between dairy farms. The two major features are: (1) a quasi auctioning system that produces excess demands which are covered by state reserves free of charge and (2) a price band that is used to exclude highest bids. For both features an experimental design is developed to study the impact in reference to a regular seller’s sealed bid double auction. Results show that both treatments lead to significant misallocations. These are due to the direct impact of regulations and due to an imperfect adjustment of bidding functions. The major goal of the market design to reduce quota prices is reached, however, at significant trade losses. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Livestock Production/Industries. |
| Ano: 2011 |
URL: http://purl.umn.edu/114377 |
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| Loy, Jens-Peter; Weiss, Christoph R.. |
| Only a few studies have analysed staggering and synchronisation in pricing behaviour of multi-product firms. These studies used low-frequency data in an environment of high rates of inflation. This paper investigates staggering and synchronisation of weekly prices for ten food products in 131 grocery stores in Germany over the period from May 1995 to December 2000 (296 weeks). Different forms of staggering and synchronisation (across-store synchronisation, within type-of-store synchronisation, within retailer synchronisation or across-product synchronisation) have been analysed. None of these forms of synchronisation is supported empirically however. In contrast, perfect staggering can only be rejected in very few cases. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Demand and Price Analysis. |
| Ano: 2002 |
URL: http://purl.umn.edu/19882 |
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| Glauben, Thomas; Loy, Jens-Peter; Meyer, Jochen. |
| In this paper the impact of the introduction of the Euro on the vertical price transmission in German food markets is analyzed. It is hypothesized that following the introduction of the Euro the presence of money illusion might have lead to higher real prices, and if so it is likely accompanied by higher margins between respective wholesale and retail prices. While other studies have mainly focused on the behavior of average prices, here reactions at the individual store level are investigated. For cucumber and carrots the vertical price relationships between retail and wholesale prices are estimated by employing an error correction approach, which is enhanced to test for structural breaks with a flexible time frame using a F-max approach. The results... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Financial Economics; Industrial Organization. |
| Ano: 2005 |
URL: http://purl.umn.edu/24634 |
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| Brümmer, Bernhard; Loy, Jens-Peter; Struve, Carsten. |
| In this paper the newly established rules for trading milk quotas in Germany are analyzed. These regulations have been in force since April 2000. Following a brief historical review of the quota system, the major changes in economic incentives regarding trading milk and the expected welfare implications are derived. Next, the effects of the new trading rules on quota prices in comparison to a reference system (sealed bid double auction) are discussed. In the empirical part the significance of the theoretical effects is illustrated. Recent changes in the regulations for quota trade are shown to have little effect in terms of mitigating these problems. |
| Tipo: Journal Article |
Palavras-chave: Rules for milk quota trading; Auctions; Agricultural and Food Policy; Financial Economics. |
| Ano: 2003 |
URL: http://purl.umn.edu/97978 |
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| von Cramon-Taubadel, Stephan; Loy, Jens-Peter; Meyer, Jochen. |
| The impact of cross sectional aggregation over individual retail stores on the estimation and testing of vertical price transmission is investigated using a unique data set of individual retail prices. Systematic differences between the results of estimations using aggregated data on the one hand, and disaggregated data on the other, are discussed theoretically and confirmed empirically. The results suggest that results based on aggregated data generally cannot be used to draw conclusions about price transmission behaviour at the level of the individual data that underlies aggregates. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Demand and Price Analysis. |
| Ano: 2003 |
URL: http://purl.umn.edu/21987 |
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| Glauben, Thomas; Loy, Jens-Peter. |
| In this paper we applied two well known empirical models, the ‘pricing-to-market’ and the ‘residual demand elasticity’ approach, to test for market power of German food and beverage exporters on the main international markets (beer, cocoa powder, chocolate, and sugar confectionary). We compared the estimation results and considered the time series properties of the model variables, which both had an impact on the conclusions drawn from the model estimates. On many international food markets conditions for the existence of market power are fulfilled, such as concentrated supply and/or demand structures, or specific product qualities. For the products under study we have shown that the supply side is highly concentrated. For instance, for beer, cocoa powder,... |
| Tipo: Journal Article |
Palavras-chave: Pricing to market; Residual demand elasticity; Market power; Food and beverage export markets; Agribusiness; Industrial Organization. |
| Ano: 2001 |
URL: http://purl.umn.edu/98701 |
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| Loy, Jens-Peter; Weaver, Robert D.. |
| Retail pricing strategies incorporate promotions, sales, and rigidities. A number of models have been proposed in particular to explain the occurrence of sales. Focussing on the market for fresh foods the model by Varian and the loss leader argument seem to be intuitively best fitting to the conditions in the fresh food market. From these models we derive several hypotheses that are tested for a unique data set of the German fresh food retail market. The data set consists of weekly prices for ten food items in 131 grocery shops over the period from 1995 to 2000. Following Varian sales should lead to reduced expenditures, while the loss leader argument assumes that consumers are lured into the shop by promotional sales which are covered by higher prices for... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Food Consumption/Nutrition/Food Safety; Marketing. |
| Ano: 2003 |
URL: http://purl.umn.edu/25914 |
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| Loy, Jens-Peter; Weiss, Christoph R.. |
| Only a few studies have analysed staggering and synchronisation in pricing behaviour of multi-product firms. These studies used low-frequency data in an environment of high rates of inflation. This paper investigates staggering and synchronisation of weekly prices for ten food products in 131 grocery stores in Germany over the period from May 1995 to December 2000 (296 weeks). Different forms of staggering and synchronisation (across-store synchronisation, within type-of-store synchronisation, within retailer synchronisation or across-product synchronisation) have been analysed. None of these forms of synchronisation is supported empirically however. In contrast, perfect staggering can only be rejected in very few cases. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Pricing behaviour; Food products; German retailers; Demand and Price Analysis. |
| Ano: 2002 |
URL: http://purl.umn.edu/24823 |
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| Registros recuperados: 25 | |
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