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A Model Of Imperfect Competition Using Marginal Input And Output Prices: Application To The Beef Packing Industry

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  • Muth, Mary K.
  • Wohlgenant, Michael K.

Abstract

Based on Diewert's idea that models under competition can be generalized to imperfect competition using marginal prices, we develop a test for imperfect competition in the beef packing industry. Our model is more general and flexible than those depending on empricial estimates of the input supply and output demand elasticities.

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File URL: http://purl.umn.edu/20853
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Bibliographic Info

Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 1998 Annual meeting, August 2-5, Salt Lake City, UT with number 20853.

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Date of creation: 1998
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Handle: RePEc:ags:aaea98:20853

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Related research

Keywords: Agribusiness; Demand and Price Analysis;

References

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  1. Schroeter, John R. & Azzam, Azzeddine M., 1990. "Measuring Market Power in Multi-Product Oligopolies: The U.S. Meat Industry," Staff General Research Papers 11112, Iowa State University, Department of Economics.
  2. Appelbaum, Elie, 1982. "The estimation of the degree of oligopoly power," Journal of Econometrics, Elsevier, vol. 19(2-3), pages 287-299, August.
  3. Schroeter, John R, 1988. "Estimating the Degree of Market Power in the Beef Packing Industry," The Review of Economics and Statistics, MIT Press, vol. 70(1), pages 158-62, February.
  4. 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.
  5. Schroeter, John R. & Azzam, Azzeddine M., 1991. "Implications of Increased Regional Concentration and Oligopsonistic Coordination in the Beef Packing Industry," Staff General Research Papers 11109, Iowa State University, Department of Economics.
  6. A. M. Azzam, 1992. "Testing The Competitiveness Of Food Price Spreads," Journal of Agricultural Economics, Wiley Blackwell, vol. 43(2), pages 248-256.
  7. 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.
  8. Hayenga, Marvin L. & Koontz, Stephen R. & Schroeder, Ted C., 1996. "Definition of Regional Cattle Procurement Markets," Staff General Research Papers 10562, Iowa State University, Department of Economics.
  9. 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.
  10. Gallant, A. Ronald & Jorgenson, Dale W., 1979. "Statistical inference for a system of simultaneous, non-linear, implicit equations in the context of instrumental variable estimation," Journal of Econometrics, Elsevier, vol. 11(2-3), pages 275-302.
  11. Diewert, W.E., 1993. "Duality approaches to microeconomic theory," Handbook of Mathematical Economics, in: K. J. Arrow & M.D. Intriligator (ed.), Handbook of Mathematical Economics, edition 4, volume 2, chapter 12, pages 535-599 Elsevier.
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Citations

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Cited by:
  1. Lynn Hunnicutt & David Aadland, 2002. "Market Power with Dynamic Inventory Constraints: The Bias in Standard Measures," Industrial Organization 0211024, EconWPA.
  2. Hunnicutt, Lynn & Bailey, DeeVon & Crook, Michelle, 2002. "Measuring Market Power With Variables Other Than Price," 2002 Annual meeting, July 28-31, Long Beach, CA 19799, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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