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Analysis Of Changing Methods Of Vertical Coordination In The Pork Industry

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Author Info

  • Martinez, Stephen W.
  • Smith, Kevin E.
  • Zering, Kelly D.

Abstract

This study examines the motivation behind contracts and vertical integration in the pork industry, and simulates the effects of potential improvements in coordination. Incentives related to lowering costs of measuring and sorting hogs, and protecting against opportunistic behavior associated with specific assets, can result in hog quality improvements. A framework for simulating the effects of increased coordination through contracts and vertical integration was developed and used to evaluate potential improvements in leanness. Although simulations suggest only modest changes in pork prices and supplies, gains in consumers' surplus could be substantial for larger demand shifts due to quality improvements.

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File URL: http://purl.umn.edu/15561
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Bibliographic Info

Article provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.

Volume (Year): 30 (1998)
Issue (Month): 02 (December)
Pages:

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Handle: RePEc:ags:joaaec:15561

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Web page: http://www.saea.org/jaae/jaae.htm
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Related research

Keywords: Contracts; Hogs; Lean pork; Simulation model; Vertical coordination; Vertical integration; Industrial Organization; Livestock Production/Industries;

References

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  1. Azzeddine Azzam, 1996. "Testing the Monopsony-Inefficiency Incentive for Backward Integration," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(3), pages 585-590.
  2. David A. Hennessy, 1996. "Information Asymmetry as a Reason for Food Industry Vertical Integration," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(4), pages 1034-1043.
  3. Klein, Benjamin & Crawford, Robert G & Alchian, Armen A, 1978. "Vertical Integration, Appropriable Rents, and the Competitive Contracting Process," Journal of Law and Economics, University of Chicago Press, vol. 21(2), pages 297-326, October.
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Cited by:
  1. Key, Nigel D. & McBride, William D., 2008. "Do Production Contracts Raise Farm Productivity? An Instrumental Variables Approach," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 37(2), October.
  2. McBride, William D. & Key, Nigel D., 2003. "Economic And Structural Relationships In U.S. Hog Production," Agricultural Economics Reports 33971, United States Department of Agriculture, Economic Research Service.
  3. Adhikari, Bishwa B. & Harsh, Stephen B. & Schwab, Gerald, 2004. "Regional Competitive Position Of Pork Industry," 2004 Annual meeting, August 1-4, Denver, CO 20057, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  4. MacDonald, Stephen & Naik, Gopal & Landes, Rip, 2010. "Markets, Institutions, and the Quality of Agricultural Products: Cotton Quality in India," 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado 61854, Agricultural and Applied Economics Association.

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