IDEAS home Printed from https://ideas.repec.org/p/ags/aaea20/304272.html
   My bibliography  Save this paper

Comparing methods for markup estimation with an application to EU food retailing

Author

Listed:
  • Koppenberg, Maximilian
  • Hirsch, Stefan

Abstract

No abstract is available for this item.

Suggested Citation

  • Koppenberg, Maximilian & Hirsch, Stefan, 2020. "Comparing methods for markup estimation with an application to EU food retailing," 2020 Annual Meeting, July 26-28, Kansas City, Missouri 304272, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea20:304272
    DOI: 10.22004/ag.econ.304272
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/304272/files/18102.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.304272?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Caselli, Mauro & Schiavo, Stefano & Nesta, Lionel, 2018. "Markups and markdowns," Economics Letters, Elsevier, vol. 173(C), pages 104-107.
    2. Alexandre Gohin & Hervé Guyomard, 2000. "Measuring Market Power for Food Retail Activities: French Evidence," Journal of Agricultural Economics, Wiley Blackwell, vol. 51(2), pages 181-195, May.
    3. Paolo Sckokai & Claudio Soregaroli & Daniele Moro, 2013. "Estimating Market Power by Retailers in a Dynamic Framework: the Italian PDO Cheese Market," Journal of Agricultural Economics, Wiley Blackwell, vol. 64(1), pages 33-53, February.
    4. Jan De Loecker & Frederic Warzynski, 2012. "Markups and Firm-Level Export Status," American Economic Review, American Economic Association, vol. 102(6), pages 2437-2471, October.
    5. Perekhozhuk Oleksandr & Hockmann Heinrich & Fertő Imre & Bakucs Lajos Zoltán, 2013. "Identification of Market Power in the Hungarian Dairy Industry: A Plant-Level Analysis," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 11(1), pages 1-13, January.
    6. Bhuyan, Sanjib & Lopez, Rigoberto A., 1995. "Welfare Losses Under Alternative Oligopoly Regimes: The U.S. Food and Tobacco Manufacturing Industries," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 27(2), pages 577-587, December.
    7. Wooldridge, Jeffrey M., 2019. "Correlated random effects models with unbalanced panels," Journal of Econometrics, Elsevier, vol. 211(1), pages 137-150.
    8. Alexandre Gohin & Hervé Guyomard, 2000. "Measuring market power for food retail activities : French evidence," Post-Print hal-01931688, HAL.
    9. Mei, Bin & Sun, Changyou, 2008. "Assessing Time-Varying Oligopoly and Oligopsony Power in the U.S. Paper Industry," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 40(3), pages 1-13, December.
    10. Sheldon, Ian M., 2017. "The Competitiveness Of Agricultural Product And Input Markets: A Review And Synthesis Of Recent Research," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 49(1), pages 1-44, February.
    11. Christensen, Laurits R & Jorgenson, Dale W & Lau, Lawrence J, 1973. "Transcendental Logarithmic Production Frontiers," The Review of Economics and Statistics, MIT Press, vol. 55(1), pages 28-45, February.
    12. Oleksandr Perekhozhuk & Thomas Glauben & Michael Grings & Ramona Teuber, 2017. "Approaches And Methods For The Econometric Analysis Of Market Power: A Survey And Empirical Comparison," Journal of Economic Surveys, Wiley Blackwell, vol. 31(1), pages 303-325, February.
    13. Mei, Bin & Sun, Changyou, 2008. "Assessing Time-Varying Oligopoly and Oligopsony Power in the U.S. Paper Industry," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 40(3), pages 927-939, December.
    14. Rudinskaya, T., 2019. "Investigation of the Determinants of Market Power on Czech Pork Meat Market," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 11(2), June.
    15. Sylvain Weber, 2010. "bacon: An effective way to detect outliers in multivariate data using Stata (and Mata)," Stata Journal, StataCorp LP, vol. 10(3), pages 331-338, September.
    16. Rigoberto A. Lopez & Xi He & Azzeddine Azzam, 2018. "Stochastic Frontier Estimation of Market Power in the Food Industries," Journal of Agricultural Economics, Wiley Blackwell, vol. 69(1), pages 3-17, February.
    17. Olley, G Steven & Pakes, Ariel, 1996. "The Dynamics of Productivity in the Telecommunications Equipment Industry," Econometrica, Econometric Society, vol. 64(6), pages 1263-1297, November.
    18. Long, William F & Ravenscraft, David J, 1984. "The Misuse of Accounting Rates of Return: Comment," American Economic Review, American Economic Association, vol. 74(3), pages 494-500, June.
    19. Daniel A. Ackerberg & Kevin Caves & Garth Frazer, 2015. "Identification Properties of Recent Production Function Estimators," Econometrica, Econometric Society, vol. 83, pages 2411-2451, November.
    20. Just, David R. & Gabrielyan, Gnel, 2018. "Influencing the food choices of SNAP consumers: Lessons from economics, psychology and marketing," Food Policy, Elsevier, vol. 79(C), pages 309-317.
    21. repec:hal:spmain:info:hdl:2441/j27962rn8r5qgvg0f7t0vk5q is not listed on IDEAS
    22. repec:hal:spmain:info:hdl:2441/4v3ds3it5k8isrrec0qlf7bt4m is not listed on IDEAS
    23. Fisher, Franklin M & McGowan, John J, 1983. "On the Misuse of Accounting Rates of Return to Infer Monopoly Profits," American Economic Review, American Economic Association, vol. 73(1), pages 82-97, March.
    24. Richard J. Sexton, 2000. "Industrialization and Consolidation in the U.S. Food Sector: Implications for Competition and Welfare," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(5), pages 1087-1104.
    25. Kumbhakar, Subal C., 2011. "Estimation of production technology when the objective is to maximize return to the outlay," European Journal of Operational Research, Elsevier, vol. 208(2), pages 170-176, January.
    26. Chris Edmond & Virgiliu Midrigan & Daniel Yi Xu, 2018. "How Costly Are Markups?," NBER Working Papers 24800, National Bureau of Economic Research, Inc.
    27. Riju Joshi & Jeffrey M. Wooldridge, 2019. "Correlated Random Effects Models with Endogenous Explanatory Variables and Unbalanced Panels," Annals of Economics and Statistics, GENES, issue 134, pages 243-268.
    28. Subal Kumbhakar & Sjur Baardsen & Gudbrand Lien, 2012. "A New Method for Estimating Market Power with an Application to Norwegian Sawmilling," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 40(2), pages 109-129, March.
    29. Diewert, W E, 1971. "An Application of the Shephard Duality Theorem: A Generalized Leontief Production Function," Journal of Political Economy, University of Chicago Press, vol. 79(3), pages 481-507, May-June.
    30. Chen, Yi-Yi & Schmidt, Peter & Wang, Hung-Jen, 2014. "Consistent estimation of the fixed effects stochastic frontier model," Journal of Econometrics, Elsevier, vol. 181(2), pages 65-76.
    31. Klaus Salhofer & Christoph Tribl & Franz Sinabell, 2012. "Market power in Austrian food retailing: the case of milk products," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 39(1), pages 109-122, February.
    32. Bresnahan, Timothy F., 1982. "The oligopoly solution concept is identified," Economics Letters, Elsevier, vol. 10(1-2), pages 87-92.
    33. Jondrow, James & Knox Lovell, C. A. & Materov, Ivan S. & Schmidt, Peter, 1982. "On the estimation of technical inefficiency in the stochastic frontier production function model," Journal of Econometrics, Elsevier, vol. 19(2-3), pages 233-238, August.
    34. Silva, Bruno Kanieski & Cubbage, Frederick W. & Gonzalez, Ronalds & Abt, Robert C., 2019. "Assessing market power in the U.S. pulp and paper industry," Forest Policy and Economics, Elsevier, vol. 102(C), pages 138-150.
    35. Richard J. Sexton & Tian Xia, 2018. "Increasing Concentration in the Agricultural Supply Chain: Implications for Market Power and Sector Performance," Annual Review of Resource Economics, Annual Reviews, vol. 10(1), pages 229-251, October.
    36. James Levinsohn & Amil Petrin, 2003. "Estimating Production Functions Using Inputs to Control for Unobservables," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 70(2), pages 317-341.
    37. Hall, Robert E, 1988. "The Relation between Price and Marginal Cost in U.S. Industry," Journal of Political Economy, University of Chicago Press, vol. 96(5), pages 921-947, October.
    38. Barlev, B & Levy, H, 1979. "Variability Of Accounting Income Numbers," Journal of Accounting Research, Wiley Blackwell, vol. 17(2), pages 305-315.
    39. Pascal Lavergne & Vincent Réquillart & Michel Simioni, 2001. "Welfare Losses Due to Market Power: Hicksian versus Marshallian Measurement," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(1), pages 157-165.
    40. Catherine J. Morrison Paul, 2001. "Market and Cost Structure in the U.S. Beef Packing Industry: A Plant-Level Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(1), pages 64-76.
    41. Vardges Hovhannisyan & Brian W. Gould, 2012. "A Structural Model of the Analysis of Retail Market Power: The Case of Fluid Milk," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 94(1), pages 67-79.
    42. Billor, Nedret & Hadi, Ali S. & Velleman, Paul F., 2000. "BACON: blocked adaptive computationally efficient outlier nominators," Computational Statistics & Data Analysis, Elsevier, vol. 34(3), pages 279-298, September.
    43. Bhuyan, Sanjib & Lopez, Rigoberto A., 1995. "Welfare Losses Under Alternative Oligopoly Regimes: The U.S. Food And Tobacco Manufacturing Industries," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 27(2), pages 1-11, December.
    44. Appelbaum, Elie, 1982. "The estimation of the degree of oligopoly power," Journal of Econometrics, Elsevier, vol. 19(2-3), pages 287-299, August.
    45. Aigner, Dennis & Lovell, C. A. Knox & Schmidt, Peter, 1977. "Formulation and estimation of stochastic frontier production function models," Journal of Econometrics, Elsevier, vol. 6(1), pages 21-37, July.
    46. Greene, William, 2005. "Reconsidering heterogeneity in panel data estimators of the stochastic frontier model," Journal of Econometrics, Elsevier, vol. 126(2), pages 269-303, June.
    47. M. Vancauteren, 2013. "EU harmonisation of regulations and mark-ups in the Dutch food industry," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 40(1), pages 163-189, February.
    48. Maudos, Joaquin & de Guevara, Juan Fernandez, 2007. "The cost of market power in banking: Social welfare loss vs. cost inefficiency," Journal of Banking & Finance, Elsevier, vol. 31(7), pages 2103-2125, July.
    49. Sven Anders, 2008. "Imperfect Competition in German Food Retailing: Evidence from State Level Data," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 36(4), pages 441-454, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Maximilian Koppenberg & Stefan Hirsch, 2022. "Markup estimation: A comparison of contemporary methods at the example of European food retailers," Agribusiness, John Wiley & Sons, Ltd., vol. 38(1), pages 108-133, January.
    2. Maximilian Koppenberg & Stefan Hirsch, 2022. "Output market power and firm characteristics in dairy processing: Evidence from three EU countries," Journal of Agricultural Economics, Wiley Blackwell, vol. 73(2), pages 490-517, June.
    3. Mydland, Ørjan & Størdal, Ståle & Kumbhakar, Subal C. & Lien, Gudbrand, 2022. "Modeling markups and its determinants: The case of Norwegian industries and regions," Economic Analysis and Policy, Elsevier, vol. 76(C), pages 252-262.
    4. Hirsch, Stefan & Koppenberg, Maximilian, 2020. "Power imbalances in French food retailing: Evidence from a production function approach to estimate market power," Economics Letters, Elsevier, vol. 194(C).
    5. Perekhozhuk, Oleksandr & Chezhia, Giorgi & Glauben, Thomas, 2021. "Measuring Oligopsony Market Power in Kazakh Grain-Processing Industry: Converging Evidence from Two Structural Approaches," 2021 Conference, August 17-31, 2021, Virtual 315345, International Association of Agricultural Economists.
    6. Dries Maes & Mark Vancauteren & Steven Passel, 2019. "Investigating market power in the Belgian pork production chain," Review of Agricultural, Food and Environmental Studies, Springer, vol. 100(1), pages 93-117, December.
    7. Dries Maes & Mark Vancauteren & Steven Van Passel, 2019. "Investigating market power in the Belgian porkproduction chain," Review of Agricultural, Food and Environmental Studies, INRA Department of Economics, vol. 100(1-4), pages 93-117.
    8. Stefan Hirsch & David Lanter & Robert Finger, 2021. "Profitability and profit persistence in EU food retailing: Differences between top competitors and fringe firms," Agribusiness, John Wiley & Sons, Ltd., vol. 37(2), pages 235-263, April.
    9. Maes, Dries & Vancauteren, Mark & Van Passel, Steven, 2019. "Investigating market power in the Belgian pork production chain," Review of Agricultural, Food and Environmental Studies, Institut National de la Recherche Agronomique (INRA), vol. 100(1-4), November.
    10. Lukáš Čechura & Tinoush Jamali Jaghdani, 2021. "Market Imperfections within the European Wheat Value Chain: The Case of France and the United Kingdom," Agriculture, MDPI, vol. 11(9), pages 1-21, August.
    11. Grau, Aaron Stephan Alexander & Hockmann, Heinrich, 2017. "Estimating oligopsony power on two vertically integrated markets," 2017 International Congress, August 28-September 1, 2017, Parma, Italy 261277, European Association of Agricultural Economists.
    12. Aaron Grau & Heinrich Hockmann, 2018. "Market power in the German dairy value chain," Agribusiness, John Wiley & Sons, Ltd., vol. 34(1), pages 93-111, December.
    13. Čechura, Lukáš & Jamali Jaghdani, Tinoush, 2021. "Market imperfections within the European wheat value chain: The case of France and the United Kingdom," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 11(9).
    14. Chanjin Chung & Seongjin Park & Jungmin Lee, 2018. "Estimating bilateral market power of processors and retailers in the U.S. beef industry," Agribusiness, John Wiley & Sons, Ltd., vol. 34(4), pages 771-792, October.
    15. Maes, Dries & Vancauteren, Mark & Van Passel, Steven, 2016. "Investigating market power in the Belgian pork production chain," 149th Seminar, October 27-28, 2016, Rennes, France 245114, European Association of Agricultural Economists.
    16. Simon Pröll & Giannis Karagiannis & Klaus Salhofer, 2019. "Advertising and Markups: The Case of the German Brewing Industry," Working Papers 732019, University of Natural Resources and Life Sciences, Vienna, Department of Economics and Social Sciences, Institute for Sustainable Economic Development.
    17. Thomas Hasenzagl & Luis Perez, 2023. "The Micro-Aggregated Profit Share," Papers 2309.12945, arXiv.org, revised Nov 2023.
    18. Becker, Annette & Hottenrott, Hanna & Mukherjee, Anwesha, 2022. "Division of labor in R&D? Firm size and specialization in corporate research," Journal of Economic Behavior & Organization, Elsevier, vol. 194(C), pages 1-23.
    19. Lopez, Rigoberto A., 2022. "The Dimensions of Productivity Change in the U.S. Food Manufacturing Industries," 2022 Allied Social Sciences Association (ASSA) Annual Meeting (Virtual), January 7-9, 2022 316831, Agricultural and Applied Economics Association.
    20. Philipp Meinen & Ana Cristina Soares, 2022. "Markups and Financial Shocks," The Economic Journal, Royal Economic Society, vol. 132(647), pages 2471-2499.

    More about this item

    Keywords

    Demand and Price Analysis; Industrial Organization; Research Methods/Statistical Methods;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:aaea20:304272. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aaeaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.