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A Conjectural Variations Model of Reduced Japanese Milk Price Supports

Author

Listed:
  • Nobuhiro Suzuki
  • John E. Lenz
  • Olan D. Forker

Abstract

Conjectural variations are estimated to determine the degree of imperfection in the Japanese milk market. Estimated conjectural variations indicate that the Japanese milk market is imperfectly competitive but is becoming more competitive. Our comparative static analysis indicates that when the milk support price is reduced, the fluid milk price will decline less under the current imperfectly competitive structure than it would under a competitive structure.

Suggested Citation

  • Nobuhiro Suzuki & John E. Lenz & Olan D. Forker, 1993. "A Conjectural Variations Model of Reduced Japanese Milk Price Supports," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(1), pages 210-218.
    • Handle: RePEc:oup:ajagec:v:75:y:1993:i:1:p:210-218.
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    File URL: http://hdl.handle.net/10.2307/1242969
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    Citations

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    Cited by:

    1. Maeda, Koushi & Suzuki, Nobuhiro & Kaiser, Harry M., 2001. "Measuring the Effects of Eliminating State Trading Enterprises on the World Wheat Sector," Working Papers 127664, Cornell University, Department of Applied Economics and Management.
    2. Perekhozhuk Oleksandr & Hockmann Heinrich & Fertő Imre & Bakucs Lajos Zoltán, 2013. "Identification of Market Power in the Hungarian Dairy Industry: A Plant-Level Analysis," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 11(1), pages 1-13, January.
    3. Hayashida, K., 2018. "Bargaining Power between Food Processors and Retailers: Evidence from Japanese Milk Transactions," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277730, International Association of Agricultural Economists.
    4. Kaittisak Kumse & Nobuhiro Suzuki & Takeshi Sato, 2020. "Does oligopsony power matter in price support policy design? Empirical evidence from the Thai Jasmine rice market," Agricultural Economics, International Association of Agricultural Economists, vol. 51(3), pages 373-385, May.
    5. Frohberg, Klaus & Hartmann, Monika, 1997. "Comparing measures of competitiveness," IAMO Discussion Papers 2, Leibniz Institute of Agricultural Development in Transition Economies (IAMO).
    6. Basak Canan & Ronald W. Cotterill, 2006. "Strategic pricing in a differentiated product oligopoly model: fluid milk in Boston," Agricultural Economics, International Association of Agricultural Economists, vol. 35(1), pages 27-33, July.
    7. Suzuki, Nobuhiro & Kaiser, Harry M. & Lenz, John E. & Forker, Olan D., 1993. "Evaluating U.S. Generic Milk Advertising Effectiveness Using An Imperfect Competition Model," Research Bulletins 123015, Cornell University, Department of Applied Economics and Management.
    8. Toru Komaki & Jeremy Penzer, 2005. "Estimation of time‐varying price elasticity in 1970–1997 Japanese raw milk supply by structural time‐series model," Agricultural Economics, International Association of Agricultural Economists, vol. 32(1), pages 1-14, January.
    9. Yusuke Higaki & Kisan Gunjal & Garth Coffin, 2001. "Competition in the Japanese wholesale potato market," Agribusiness, John Wiley & Sons, Ltd., vol. 17(3), pages 319-332.
    10. Maeda, Koushi & Suzuki, Xohuhiro & Kaiser, Harry M., 2001. "An Economic Evaluation Of The New Agricultural Trade Negotiations: A Nonlinear Imperfectly Competitive Spatial Equilibrium Approach," Working Papers 7231, Cornell University, Department of Applied Economics and Management.
    11. S. McCorriston & C. W. Morgan & A. J. Rayner, 1998. "Processing Technology, Market Power and Price Transmission," Journal of Agricultural Economics, Wiley Blackwell, vol. 49(2), pages 185-201, June.
    12. Corts, Kenneth S., 1998. "Conduct parameters and the measurement of market power," Journal of Econometrics, Elsevier, vol. 88(2), pages 227-250, November.
    13. Frohberg, Klaus & Hartmann, Monika, 1997. "Comparing Measures Of Competitiveness," IAMO Discussion Papers 14879, Institute of Agricultural Development in Transition Economies (IAMO).
    14. Nobunori Kuga & Nobuhiro Suzuki & Harry M. Kaiser, 2010. "Trade implications of price discrimination in a domestic market," Agribusiness, John Wiley & Sons, Ltd., vol. 26(1), pages 64-82.

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