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Multimarket market power estimation: the Australian retail meat sector

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  • Charles Hyde
  • Jeffrey Perloff

Abstract

A new technique for estimating market power in several markets simultaneously is developed and applied to the Australian retail beef, lamb, and pork markets. The hypotheses that market power is zero and that market power is the same for each meat cannot be rejected. Nor is there evidence that market power increased over the period of analysis. Little bias is created by examining markets is isolation, rather than within a system, when markets are competitive, but that bias can be large when market power exists in some markets in the system.

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File URL: http://www.tandfonline.com/doi/abs/10.1080/000368498325066
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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics.

Volume (Year): 30 (1998)
Issue (Month): 9 ()
Pages: 1169-1176

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Handle: RePEc:taf:applec:v:30:y:1998:i:9:p:1169-1176

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Cited by:
  1. Moro, Daniele & Paolo, Sckokai & Veneziani, Mario, 2012. "Multi-stage Market Power in the Italian Fresh Meat Industry," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 125065, Agricultural and Applied Economics Association.
  2. Hovhannisyan, Vardges & Stiegert, Kyle W., 2011. "Vertical Channel Analysis of the U.S. Milk Market," 2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania 103631, Agricultural and Applied Economics Association.
  3. Cotterill, Ronald W., 2006. "Antitrust analysis of supermarkets: global concerns playing out in local markets," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 50(1), March.
  4. Anonymous & Bosch, Darrell J., 2013. "Table of contents," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 45(02), May.
  5. Sascha A. Weber & Sven M. Anders, 2007. "Price rigidity and market power in German retailing," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 28(7), pages 737-749.
  6. Mehmet Ulubasoglu & Debdulal Mallick & Mokhtarul Wadud & Phillip Hone & Henry Haszler, 2010. "Food Demand Elasticities in Australia," Economics Series 2010_17, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
  7. Perekhozhuk, Oleksandr, 2007. "Marktstruktur und Preisbildung auf dem ukrainischen Markt für Rohmilch
    [Market structure and pricing on the Ukrainian market for raw milk]
    ," MPRA Paper 21958, University Library of Munich, Germany.
  8. Jumah, Adusei, 2000. "The Long Run, Market Power and Retail Pricing," Economics Series 78, Institute for Advanced Studies.
  9. Soregaroli, Claudio & Sckokai, Paolo & Moro, Daniele, 2011. "Agricultural policy modelling under imperfect competition," Journal of Policy Modeling, Elsevier, vol. 33(2), pages 195-212, March.
  10. Hovhannisyan, Vardges & Gould, Brian W., 2011. "Structural Model of Retail Market Power: The U.S. Milk Industry," 2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania 103590, Agricultural and Applied Economics Association.
  11. Hovhannisyan, Vardges & Stiegert, Kyle W. & Bozic, Marin, 2013. "On Endogeneity Of Retail Market Power In An Equilibrium Analysis: A Control Function Approach," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 149830, Agricultural and Applied Economics Association.
  12. Klaus Salhofer & Christoph Tribl & Franz Sinabell, 2012. "Market power in Austrian food retailing: the case of milk products," Empirica, Springer, vol. 39(1), pages 109-122, February.
  13. Sckokai, Paolo & Soregaroli, Claudio & Moro, Daniele, 2012. "Estimating Market Power By Retailers In A Dynamic Framework: The Case Of The Italian Pdo Cheese Market," 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil 126703, International Association of Agricultural Economists.
  14. Fofana, Abdulai & Jaffry, Shabbar, 2006. "Measuring Market Power in the UK Retail Salmon Industry," Working Papers 45873, Scottish Agricultural College, Land Economy Research Group.
  15. Sayed H. Saghaian, 2007. "Beef safety shocks and dynamics of vertical price adjustment: The case of BSE discovery in the U.S. beef sector," Agribusiness, John Wiley & Sons, Ltd., vol. 23(3), pages 333-348.
  16. Sckokai, Paolo & Soregaroli, Claudio & Moro, Daniele, 2009. "Estimating Market Power By Retailers In The Italian Parmigiano Reggiano And Grana Padano Cheese Market," 2009 Conference, August 16-22, 2009, Beijing, China 51425, International Association of Agricultural Economists.
  17. Zhao, Xueyan & Mullen, John D. & Griffith, Garry R. & Griffiths, William E. & Piggott, Roley R., 2000. "An Equilibrium Displacement Model of the Australian Beef Industry," Research Reports 28007, New South Wales Department of Primary Industries Research Economists.
  18. Anonymous, 2005. "Antitrust Analysis of Supermarket Retailing: Common Global Concerns that Play Out in Local Markets," 2005 Conference (49th), February 9-11, 2005, Coff's Harbour, Australia 137831, Australian Agricultural and Resource Economics Society.
  19. Sven Anders, 2008. "Imperfect Competition in German Food Retailing: Evidence from State Level Data," Atlantic Economic Journal, International Atlantic Economic Society, vol. 36(4), pages 441-454, December.
  20. Cotterill, Ronald W., 2005. "Antitrust Analysis of Supermarket Retailing: Common Global Concerns that Play Out in Local Markets," Research Reports 25184, University of Connecticut, Food Marketing Policy Center.
  21. Hovhannisyan, Vardges & Bozic, Marin, 2013. "A Benefit-Function Approach to Studying Market Power: An Application to the U.S. Yogurt Market," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 38(2), August.

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