Integrating auction theory with traditional measures of market power
AbstractMany recent studies have evaluated potential market power in the U.S. cattle procurement market using either new empirical industrial organization (NEIO) models or auction models. The model derived here shows the NEIO model holds in some cases, while the auction theory can fully describe market power in other cases, and in some cases neither model is adequate. An empirical analysis using an experimental cattle procurement data set found both the NEIO and structural auction models yield predictions of price markdowns that are lower than actual markdowns. Results from hypothesis tests indicate the NEIO model has the most explanatory power, but neither theory alone can completely explain price markdown behavior. [JEL Classifications: L13, Q13, Q18]. (C) 2010 Wiley Periodicals, Inc.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by John Wiley & Sons, Ltd. in its journal Agribusiness.
Volume (Year): 27 (2011)
Issue (Month): 2 (Spring)
Contact details of provider:
Web page: http://onlinelibrary.wiley.com/journal/10.1002/(ISSN)1520-6297
Find related papers by JEL classification:
- L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
- Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
- Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.