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Distinguishing The Source Of Market Power: An Application To Cigarette Manufacturing

Author

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  • Raper, Kellie Curry
  • Love, H. Alan
  • Shumway, C. Richard

Abstract

We compare nonparametric and nonstructural market power tests using data from the cigarette manufacturing industry. Tests are implemented to examine both monopoly and monopsony power exertion by cigarette manufacturers. Results indicate that market power in the tobacco industry, previously attributed to monopoly power exertion, should at least in part be attributed to monopsony market power in the upstream tobacco market.

Suggested Citation

  • Raper, Kellie Curry & Love, H. Alan & Shumway, C. Richard, 1998. "Distinguishing The Source Of Market Power: An Application To Cigarette Manufacturing," Faculty Paper Series 24021, Texas A&M University, Department of Agricultural Economics.
    • Handle: RePEc:ags:tamufp:24021
    DOI: 10.22004/ag.econ.24021
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    File URL: https://ageconsearch.umn.edu/record/24021/files/fp98-17.pdf
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    Citations

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    Cited by:

    1. Ronchi, Loraine, 2006. "Fairtrade and market failures in agricultural commodity markets," Policy Research Working Paper Series 4011, The World Bank.
    2. Gerry Boyle, 2003. "Tests of market power in Irish Manufacturing Industries," Economics Department Working Paper Series n1210503.pdf, Department of Economics, National University of Ireland - Maynooth.
    3. Kellie Curry Raper & Corinna Noelke, 2004. "Determining market power exertion between buyers and sellers: are nonparametrics a viable alternative?," Applied Economics, Taylor & Francis Journals, vol. 36(20), pages 2265-2274.
    4. Raper, Kellie Curry & Noelke, Corinna M., 2001. "Deterministic Nonparametric Market Power Tests: An Empirical Investigation," Staff Paper Series 11757, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    5. Noelke, Corinna M. & Raper, Kellie Curry, 1999. "Nonstructural And Statistical Nonparametric Market Power Tests: An Empirical Investigation," 1999 Annual meeting, August 8-11, Nashville, TN 21645, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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    Keywords

    Agribusiness;

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