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Retail Oligopoly Power And Fluid Milk Prices In Boston

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  • Chidmi, Benaissa
  • Lopez, Rigoberto A.
  • Cotterill, Ronald W.

Abstract

This paper assesses the independent and joint impacts of oligopoly power of market intermediaries and the Northeast Dairy Compact (NEDC) on fluid milk prices in Boston. Empirical results reveal that price increases due to oligopoly power far outweighed those caused by the NEDC by more than 10 times. In fact, markups are estimated at approximately 33% of the retail milk price, translating into approximately $1/gallon overcharge at 2002 milk prices averaging around $3/gallon.

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File URL: http://purl.umn.edu/22107
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Bibliographic Info

Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2003 Annual meeting, July 27-30, Montreal, Canada with number 22107.

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Date of creation: 2003
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Handle: RePEc:ags:aaea03:22107

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Keywords: Demand and Price Analysis;

References

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  1. Amemiya, Takeshi, 1974. "The nonlinear two-stage least-squares estimator," Journal of Econometrics, Elsevier, vol. 2(2), pages 105-110, July.
  2. repec:agl:nearer:v:30:y:2001:i:1:p:83-92 is not listed on IDEAS
  3. Appelbaum, Elie, 1982. "The estimation of the degree of oligopoly power," Journal of Econometrics, Elsevier, vol. 19(2-3), pages 287-299, August.
  4. Lass, Daniel A. & Adanu, Mawunyo & Allen, P. Geoffrey, 2001. "Impacts Of The Northeast Dairy Compact On New England Retail Prices," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 30(1), April.
  5. Lopez, Rigoberto A. & Altobello, Marilyn A. & Shah, Farhed A., 1994. "Amenity Benefits And Public Policy: An Application To The Connecticut Dairy Sector," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 26(02), December.
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Cited by:
  1. Alessandro Bonanno & Rigoberto A. Lopez, 2004. "Private Labels, Retail Configuration, and Fluid Milk Prices," Food Marketing Policy Center Research Reports 082, University of Connecticut, Department of Agricultural and Resource Economics, Charles J. Zwick Center for Food and Resource Policy.
  2. Bonanno Alessandro & Lopez Rigoberto A., 2005. "Private Label Expansion and Supermarket Milk Prices," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 3(1), pages 1-18, February.
  3. 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.

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