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Concentration, Market Power, And Cost Efficiency In The Corn Seed Industry

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  • Fernandez-Cornejo, Jorge
  • Spielman, David J.

Abstract

The paper presents a model developed to examine the effects of industry concentration on market power and cost efficiency in the seed industry. In addition, the paper presents preliminary measures of the relative strengths of these effects for the case of the U.S. corn seed industry over the past 3 decades. The model uses conjectural elasticities and is estimated using data collected from USDA sources. The empirical results allow us to distinguish between the market power and cost effects of concentration, and to ascertain the tradeoff between the cost efficiency and market power resulting from higher concentration in the corn seed industry.

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File URL: http://purl.umn.edu/19877
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Bibliographic Info

Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2002 Annual meeting, July 28-31, Long Beach, CA with number 19877.

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Date of creation: 2002
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Handle: RePEc:ags:aaea02:19877

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Keywords: Marketing;

References

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  1. Appelbaum, Elie, 1982. "The estimation of the degree of oligopoly power," Journal of Econometrics, Elsevier, vol. 19(2-3), pages 287-299, August.
  2. Azzam, Azzeddine M. & Schroeter, John R., 1995. "The Tradeoff Between Oligopsony Power and Cost Efficiency in Horizontal Consolidation: An Example from Beef Packing," Staff General Research Papers 5062, Iowa State University, Department of Economics.
  3. Chu, Mei-Chin & Swinton, Scott M. & Batie, Sandra S. & Dobbins, Craig L., 1996. "Agricultural Production Contracts To Reduce Nitrate Leaching: A Whole-Farm Analysis," Staff Papers 11806, Michigan State University, Department of Agricultural, Food, and Resource Economics.
  4. Appelbaum, Elie, 1979. "Testing price taking behavior," Journal of Econometrics, Elsevier, vol. 9(3), pages 283-294, February.
  5. Cowling, Keith & Waterson, Michael, 1976. "Price-Cost Margins and Market Structure," Economica, London School of Economics and Political Science, vol. 43(171), pages 267-74, August.
  6. Gollop, Frank M. & Roberts, Mark J., 1979. "Firm interdependence in oligopolistic markets," Journal of Econometrics, Elsevier, vol. 10(3), pages 313-331, August.
  7. Azzam, Azzeddine M, 1997. "Measuring Market Power and Cost-Efficiency Effects of Industrial Concentration," Journal of Industrial Economics, Wiley Blackwell, vol. 45(4), pages 377-86, December.
  8. A. M. Azzam & E. Pagoulatos, 1990. "Testing Oligopolistic And Oligopsonistic Behaviour: An Application To The Us Meat-Packing Industry," Journal of Agricultural Economics, Wiley Blackwell, vol. 41(3), pages 362-370.
  9. Schroeter, John R. & Azzam, Azzeddine M., 1991. "Marketing Margins, Market Power, and Price Uncertainty," Staff General Research Papers 11110, Iowa State University, Department of Economics.
  10. Schroeter, John R., 1988. "Estimating the Degree of Market Power in the Beef Packing Industry," Staff General Research Papers 11114, Iowa State University, Department of Economics.
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Cited by:
  1. Nolan, Elizabeth & Santos, Paulo, 2009. "Evidence for increasing concentration in plant breeding industries in the United States and the European Union," 2009 Conference (53rd), February 11-13, 2009, Cairns, Australia 48060, Australian Agricultural and Resource Economics Society.

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