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Measuring the Intensity of Competition in the Japanese Beef Market

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  • Reed, Michael R.
  • Saghaian, Sayed H.
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    Abstract

    A residual demand model for beef exports to Japan is specified and estimated. The objective is to estimate the extent of market power. It is assumed that each exporting country faces a downward-sloping residual demand curve, which reflects the market demand minus the supplies of competitors, and that exporters maximize profit through their output decisions. The analysis is disaggregated by beef cut and form to capture the variation by beef market segments. The results indicate that the highest markup of price over marginal cost belongs to U.S. frozen ribs, the only indication of market power by U.S. exporters. Canada is found to have limited market power, whereas Australia and New Zealand enjoy some market power, including five chilled beef categories.

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    Bibliographic Info

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

    Volume (Year): 36 (2004)
    Issue (Month): 01 (April)
    Pages:

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    Handle: RePEc:ags:joaaec:42942

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

    Keywords: beef; Japan; market power; market share; residual demand; F12; L13; Q17;

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    References

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    1. Pinelopi Koujianou Goldberg & Michael M. Knetter, 1997. "Goods Prices and Exchange Rates: What Have We Learned?," Journal of Economic Literature, American Economic Association, vol. 35(3), pages 1243-1272, September.
    2. Green, John R. & Hayes, Dermot J. & Khan, Linda & Kihl, Young Whan & Knipe, C. Lynn & Olson, Dennis & Ramaswami, Sridhar & Rust, Robert & Sapp, Stephen G. & Seim, Emerson L. & Wahl, Thomas I. & Clemen, 1990. "Meat Marketing in Japan: A Guide for U.S. Meat Exporting Companies," Staff General Research Papers 539, Iowa State University, Department of Economics.
    3. Glauben Thomas & Loy Jens-Peter, 2002. "Pricing-to-Market versus Residual Demand Elasticity Analysis of Imperfect Competition in Food Exports: Evidence from Germany," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 1(1), pages 1-21, October.
    4. Sven W. Arndt & J. David Richardson, 1988. "Real-Financial Linkages Among Open Economies," NBER Working Papers 2230, National Bureau of Economic Research, Inc.
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    Cited by:
    1. Zhang, Qiang & Reed, Michael R. & Saghaian, Sayed H., 2007. "Export Market Pricing Decisions and Market Power in World Grain Markets: A Duopoly Model for Soybeans," 2007 Annual Meeting, February 4-7, 2007, Mobile, Alabama 34949, Southern Agricultural Economics Association.
    2. Miljkovic, Dragan & Jin, Hyun Joung, 2006. "Import Demand for Quality in the Japanese Beef Market," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 35(2), October.
    3. Iimi, Atsushi, 2007. "Infrastructure and trade preferences for the livestock sector : empirical evidence from the beef industry in Africa," Policy Research Working Paper Series 4201, The World Bank.
    4. Kawashima, Shigekazu & Sari, Deffi Ayu Puspito, 2010. "Time-varying Armington elasticity and country-of-origin bias: from the dynamic perspective of the Japanese demand for beef imports," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 54(1), March.

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