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Estimating the Degree of Buyers' Market Power: Evidence from the Ukrainian Meat Processing Industry

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  • Perekhozhuk, Oleksandr
  • Matyukha, Andriy
  • Glauben, Thomas

Abstract

This study develops a structural market model for the econometric analysis of buyers’ market power in the Ukrainian meat processing industry, because there is some evidence that suggests that meat processors may excise market power in the agricultural market of slaughtered livestock. The estimation results did not produce any evidence suggesting the existence of buyers’ market power. Contrary to many other NEIO-studies, we extended the market structure market model by the three subsequent models. Using endogenously determined values for market power parameter, we found that meat processors concerning the buyers’ market for slaughtered livestock behave consistently with Cournot conjectures.

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Bibliographic Info

Paper provided by European Association of Agricultural Economists in its series 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland with number 114782.

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Date of creation: 02 Sep 2011
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Handle: RePEc:ags:eaae11:114782

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Keywords: Cournot competition; market power; meat processing industry; new empirical industrial organisation (NEIO); Ukraine; Livestock Production/Industries; Marketing;

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  1. Perloff,Jeffrey M. & Karp,Larry S. & Golan,Amos, 2007. "Estimating Market Power and Strategies," Cambridge Books, Cambridge University Press, number 9780521804400, October.
  2. Ospina, Enrique & Shumway, C. Richard, 1979. "Disaggregated Analysis Of Short-Run Beef Supply Response," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 4(02), December.
  3. Muth, Mary K. & Wohlgenant, Michael K., 1999. "Measuring The Degree Of Oligopsony Power In The Beef Packing Industry In The Absence Of Marketing Input Quantity Data," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 24(02), December.
  4. Perekhozhuk, Oleksandr, 2007. "Marktstruktur und Preisbildung auf dem ukrainischen Markt für Rohmilch
    [Market structure and pricing on the Ukrainian market for raw milk]
    ," MPRA Paper 21958, University Library of Munich, Germany.
  5. 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.
  6. Corts, Kenneth S., 1998. "Conduct parameters and the measurement of market power," Journal of Econometrics, Elsevier, vol. 88(2), pages 227-250, November.
  7. 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.
  8. Lajos Zoltán Bakucs & Imre Fertő & Heinrich Hockmann & Oleksandr Perekhozhuk, 2010. "Estimating Oligopsony Power in the Hungarian Market for Slaughter Hogs," Eastern European Economics, M.E. Sharpe, Inc., vol. 48(1), pages 64-78, January.
  9. Richard J. Sexton & Ian Sheldon & Steve McCorriston & Humei Wang, 2007. "Agricultural trade liberalization and economic development: the role of downstream market power," Agricultural Economics, International Association of Agricultural Economists, vol. 36(2), pages 253-270, 03.
  10. Sven Anders, 2008. "Imperfect Competition in German Food Retailing: Evidence from State Level Data," Atlantic Economic Journal, International Atlantic Economic Society, vol. 36(4), pages 441-454, December.
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