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An Alternative View of Pricing in Retail Food Markets

Author

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  • Bruce L. Benson
  • Merle D. Faminow

Abstract

The pricing mechanism of intracity retail food markets has received the attention of agricultural economists who are interested in the competitive nature of food price determination. Attention has focused on the information-theory paradigm and potential impact of publically available comparative price reports. In this paper, a spatial economic model is developed to describe and analyze consumer choice, seller behavior, and price determination in retail food markets. Empirical evidence is then used to test hypotheses developed from the spatial model. It is concluded that the spatial model offers added explanatory power of observed food market responses to retail price reporting.

Suggested Citation

  • Bruce L. Benson & Merle D. Faminow, 1985. "An Alternative View of Pricing in Retail Food Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(2), pages 296-306.
    • Handle: RePEc:oup:ajagec:v:67:y:1985:i:2:p:296-306.
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    File URL: http://hdl.handle.net/10.2307/1240682
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    Cited by:

    1. Rezitis, Anthony N. & Tsionas, Mike, 2019. "Modeling asymmetric price transmission in the European food market," Economic Modelling, Elsevier, vol. 76(C), pages 216-230.
    2. Tanguay, Georges & Hunt, Gary & Marceau, Nicolas, 2002. "Using a Canadian-American Natural Experiment to Study Relative Efficiencies of Social Welfare Payment Systems," Cahiers de recherche 0205, CIRPEE.
    3. Teresa Serra & Barry Goodwin, 2003. "Price transmission and asymmetric adjustment in the Spanish dairy sector," Applied Economics, Taylor & Francis Journals, vol. 35(18), pages 1889-1899.
    4. Edward C. Jaenicke & R. Wesley Harrison & Kimberly L. Jensen & Paul M. Jakus, 2006. "Follow the leader? Adoption behavior in food retailers' decision to offer fresh irradiated ground beef," Agribusiness, John Wiley & Sons, Ltd., vol. 22(4), pages 547-568.
    5. Glauben, Thomas & Loy, Jens-Peter & Körner, Julia, 2007. "Der Einfluss der Euro-Einführung auf die Preisentwicklung bei frischen Lebensmitteln in Deutschland," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 127(3), pages 457-485.
    6. Connor, John M., 1999. "Evolving Research on Price Competition in the Grocery Retailing Industry: An Appraisal," Agricultural and Resource Economics Review, Cambridge University Press, vol. 28(2), pages 119-127, October.
    7. Li, Lan & Carman, Hoy F. & Sexton, Richard J., 2005. "Grocery Retailer Pricing Behavior for California Avocados with Implications for Industry Promotion Strategies," 2005 Annual meeting, July 24-27, Providence, RI 19498, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    8. Alejandro Nin, 2001. "Spatial Price Linkages and Imperfect Competition in Regional Cattle Markets," Documentos de Trabajo (working papers) 0401, Department of Economics - dECON.
    9. Tian Xia & Brian Sancewich, 2018. "Interaction between buyer power in agricultural procurement and seller power in food retailing, and optimal allocation of anti-trust efforts," Agricultural and Food Economics, Springer;Italian Society of Agricultural Economics (SIDEA), vol. 6(1), pages 1-19, December.
    10. Parket, Douglas & Zilberman, David, 1989. "Price Transmission Across Marketing Levels in a Hedonic Framework," CUDARE Working Papers 198498, University of California, Berkeley, Department of Agricultural and Resource Economics.
    11. Binkley, James K. & Connor, John M., 1996. "Market Competition And Metropolitan-Area Grocery Prices," Working Papers 25988, Regional Research Project NE-165 Private Strategies, Public Policies, and Food System Performance.
    12. Lohr, Luanne, 1998. "Welfare Effects Of Eco-Label Proliferation: Too Much Of A Good Thing?," Faculty Series 16642, University of Georgia, Department of Agricultural and Applied Economics.
    13. Octavio Fernández-Amador & Josef Baumgartner & Jesús Crespo-Cuaresma, 2010. "Milking The Prices: The Role of Asymmetries in the Price Transmission Mechanism for Milk Products in Austria," Working Papers 2010-21, Faculty of Economics and Statistics, Universität Innsbruck.
    14. Wilde, Parke & Llobrera, Joseph & Ver Ploeg, Michele, 2014. "Population Density, Poverty, and Food Retail Access in the United States: An Empirical Approach," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 17(A), pages 1-16, March.
    15. Jaenicke, Edward C. & Harrison, R. Wes & Jensen, Kimberly L. & Jakus, Paul M., 2005. "Adoption Behavior in Food Retailers' Decision to Offer Fresh Irradiated Ground Beef," 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark 24680, European Association of Agricultural Economists.
    16. Chouaib Jouf, 2020. "Asymmetric price transmission along the food marketing chain: A focus on the recent price war," Working Papers hal-04133326, HAL.
    17. Lass, Daniel A., 2005. "Asymmetric Response of Retail Milk Prices in the Northeast Revisited," Research Reports 149026, University of Connecticut, Food Marketing Policy Center.
    18. Chouaib Jouf, 2020. "Asymmetric price transmission along the food marketing chain: A focus on the recent price war," EconomiX Working Papers 2020-1, University of Paris Nanterre, EconomiX.
    19. Georges Tanguay & Gary Hunt & Nicolas Marceau, 2005. "Food Prices and the Timing of Welfare Payments: A Canadian Study," Canadian Public Policy, University of Toronto Press, vol. 31(2), pages 145-160, June.
    20. Anthony N. Rezitis, 2019. "Investigating price transmission in the Finnish dairy sector: an asymmetric NARDL approach," Empirical Economics, Springer, vol. 57(3), pages 861-900, September.

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