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| Registros recuperados: 25 | |
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| Glauben, Thomas; Loy, Jens-Peter; Meyer, Jochen. |
| In this paper the impact of the introduction of the Euro on the vertical price transmission in German food markets is analyzed. It is hypothesized that the presence of money illusion might have lead to higher real prices as a result of the Euro, and if so it must be accompanied with a higher margin between the respective wholesale and retail price. While generally studies focus on the behavior of average prices, in this study the reactions of individual retailers are investigated. For lettuce and chicken the vertical price relationships between retail and wholesale prices are estimated by an error correction approach, which is extended to test for structural breaks with a flexible time frame. The results indicate no impact of the Euro for most of the... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Marketing. |
| Ano: 2004 |
URL: http://purl.umn.edu/20104 |
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| 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 indicates many phenomena, such as sales or rigidities. A number of models have been proposed in particular to explain the occurrence of sales. Focussing on the market for fresh foods the model by Varian and the loss leader argument seem to be intuitively best fitting to the conditions in the fresh food market. From these models we derive several hypotheses that are tested for a unique data set of the German fresh food retail market The data set consists of weekly prices for ten food items in 131 grocery shops over the period from 1995 to 2000. The results support to some extent the Varian model and also indicate some dynamic loss leader pricing. However, rejections of some hypothesis provide some hints for successive models adjustments.... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Marketing. |
| Ano: 2002 |
URL: http://purl.umn.edu/19787 |
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| 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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| Hedtrich, Friedrich; Loy, Jens-Peter; Muller, Rolf A.E.. |
| Seit geraumer Zeit haben "Prediction Markets", auch "Prognosemärkte" oder "InformationsMärkte" genannt, ihre Nützlichkeit bei der Prognose von Wahlergebnissen, der Vorhersage von Absatzzahlen, von Abschlussterminen von Entwicklungsprojekten und vielen anderen Ereignissen und Entwicklungen bewiesen. Die Vorhersage zukünftiger Entwicklungen in der Land und Ernährungswirtschaft hat mit der zunehmenden Integration der EUMärkte in die Weltmärkte zugenommen. Nach einer kurzen Darstellung des Vorhersagebedarfs im Agribusiness wird anschließend das Funktionsprinzip eines "Prediction Markets" dargestellt und am Beispiel eines Prototyps zur Vorhersage von Milchquotenpreisen in Deutschland veranschaulicht. Die Prognose von Milchquotenpreisen ist insbesondere vor dem... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agribusiness; Research Methods/ Statistical Methods; Prognosemärkte; Prognosemethoden; Agribusiness. |
| Ano: 2009 |
URL: http://purl.umn.edu/53274 |
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| Loy, Jens-Peter. |
| The paper aims at analyzing the potentials for reducing income risk and income variation for slaughter hog producers in Germany and Holland by participating at futures markets in Amsterdam or Hannover. The relative market and hedging efficiency for the Amsterdam stock exchange markets is tested and the optimal hedge ratio is derived for minimizing risk and variance of slaughter hog gross margins (income). Relative market efficiency and a significant impact of hedging on income risk and variance can not be rejected. The results show that the optimal hedge ratio is smaller for variance compared to risk minimizing hedging strategy. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Futures; Pigs; Market Efficiency; Hedging; Marketing. |
| Ano: 2002 |
URL: http://purl.umn.edu/24849 |
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| 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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| Registros recuperados: 25 | |
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