Empirical analysis of imperfect competition in the rice market in the Asia-Pacific region (in Russian)
AbstractRepetitive interactions among players are common to many actual markets. If this is complemented by guaranteed sales markets and the presence of dominant players, then it creates natural conditions for coordination. Economic theory suggests that the decline in competition up to the cartel level can provide higher profitability. However, coordination in such markets may alternate with competition and price wars. The observed rice prices of major Asian exporters demonstrate similar dynamics, which implies coordination of their actions. However, it is an open question how close this behavior is to that of a cartel. Using monthly data on export sales of rice from 1997, the study examines the degree of imperfect competition and the possibility of collusion. Estimation is carried out using the generalized method of moments.
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Bibliographic InfoArticle provided by Quantile in its journal Quantile.
Volume (Year): (2013)
Issue (Month): 11 (December)
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Web page: http://quantile.ru/
cartel collusion; price war; repeated games; continuous strategy; rice market;
Find related papers by JEL classification:
- C36 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Instrumental Variables (IV) Estimation
- D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
- L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
- Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices
- Q17 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agriculture in International Trade
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