Dynamic Strategic Behaviour in the Deregulated England and Wales Liquid Milk Market
AbstractA model of dynamic oligopsony is estimated for the liquid milk market in the UK. The paper extends existing methods of estimating such models by allowing for the joint estimation of the market conduct equation and the input supply equation. This entails the estimation of a two equation model in which the parameters of one equation change between two regimes whilst those of the other do not. Our results provide little evidence of dynamic strategic behaviour and suggest that the farm-gate price of milk is determined competitively.
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Bibliographic InfoPaper provided by International Association of Agricultural Economists in its series 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia with number 25282.
Date of creation: 2006
Date of revision:
Livestock Production/Industries; Marketing; D4; L1; Q13;
Find related papers by JEL classification:
- D4 - Microeconomics - - Market Structure and Pricing
- L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
- Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
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- Timothy J. Richards & Paul M. Patterson & Ram N. Acharya, 2001. "Price Behavior in a Dynamic Oligopsony: Washington Processing Potatoes," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(2), pages 259-271.
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