Assessing Oligopoly and Oligopsony Power in the U.S. Catfish Industry
AbstractThis paper addresses the issue of competition in the U.S. catfish industry. To this end, a conjectural variation oligopolistic model was developed. The model was estimated econometrically using the Generalized Method of Moments (GMM) procedure. Chi-square analysis implied that catfish processors do not exert market power over farmers or over consumers. The conjectural elasticity was estimated to be 0.073, the oligopoly power index 0.28, and the oligopsony power index 0.68, and none of these values were statistically significant. The results support competitive behavior of the catfish processing sector.
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Bibliographic InfoArticle provided by Agricultural Economics Association of Georgia in its journal Journal of Agribusiness.
Volume (Year): 25 (2007)
Issue (Month): 1 ()
competition; conjectural variation model; U.S. catfish industry; Agribusiness; Livestock Production/Industries;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Steen, Frode & Salvanes, Kjell G., 1999.
"Testing for market power using a dynamic oligopoly model,"
International Journal of Industrial Organization,
Elsevier, vol. 17(2), pages 147-177, February.
- Salvanes, K.G. & Steen, F., 1995. "Testing for Market Power Using a Dynamic OLigopoly Model," Papers 13/95, Norwegian School of Economics and Business Administration-.
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