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Measuring Market Power with Variables Other than Price

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  • Lynn Hunnicutt
  • DeeVon Bailey
  • Michelle Crook

Abstract

Beef packing has become an extremely concentrated industry, yet studies have found that little, if any, market power exists. We propose and test alternative measures of behavior that may better describe how packers control purchases from feedlots, using confidential data collected by the USDA Grain Inspection, Packers and Stockyards Administration.

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File URL: ftp://repec.bus.usu.edu/RePEc/usu/pdf/ERI2002-08.pdf
File Function: First version, 2002
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Bibliographic Info

Paper provided by Utah State University, Department of Economics in its series Working Papers with number 2002-08.

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Length: 29 pages
Date of creation: May 2002
Date of revision:
Handle: RePEc:usu:wpaper:2002-08

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Web page: http://apec.usu.edu/
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  1. Baldwin, John R & Gorecki, Paul K, 1994. "Concentration and Mobility Statistics in Canada's Manufacturing Sector," Journal of Industrial Economics, Wiley Blackwell, vol. 42(1), pages 93-103, March.
  2. Ward, Clement E. & Koontz, Stephen R. & Schroeder, Ted C., 1998. "Impacts From Captive Supplies On Fed Cattle Transaction Prices," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, Western Agricultural Economics Association, vol. 23(02), December.
  3. Hayenga, Marvin L. & O'Brien, Daniel, 1992. "Packer Competition, Forward Contracting Price Impacts, and the Relevant Market for Fed Cattle," Staff General Research Papers 11603, Iowa State University, Department of Economics.
  4. Clement E. Ward, 1993. "Comparative analysis of cattle slaughtering and fabricating costs," Agribusiness, John Wiley & Sons, Ltd., vol. 9(5), pages 441-451.
  5. Chris Fawson & DeeVon Bailey & Terry Glover, 1996. "Price impacts of concentration, timing, and product characteristics in a feeder cattle video auction," Agribusiness, John Wiley & Sons, Ltd., vol. 12(5), pages 485-496.
  6. Sanjib Bhuyan & Rigoberto A. Lopez, 1997. "Oligopoly Power in the Food and Tobacco Industries," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, Agricultural and Applied Economics Association, vol. 79(3), pages 1035-1043.
  7. Muth, Mary K. & Wohlgenant, Michael K., 1998. "A Model Of Imperfect Competition Using Marginal Input And Output Prices: Application To The Beef Packing Industry," 1998 Annual meeting, August 2-5, Salt Lake City, UT, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) 20853, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  8. 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.
  9. Feuz, Dillon M., 1999. "Market Signals In Value Based Pricing Premiums And Discounts," 1999 Annual Meeting, July 11-14, 1999, Fargo, ND, Western Agricultural Economics Association 35739, Western Agricultural Economics Association.
  10. Feuz, Dillon M., 1999. "Market Signals In Value-Based Pricing Premiums And Discounts," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, Western Agricultural Economics Association, vol. 24(02), December.
  11. Weliwita, Ananda & Azzam, Azzeddine M., 1996. "Identifying Implicit Collusion Under Declining Output Demand," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, Western Agricultural Economics Association, vol. 21(02), December.
  12. Stephen R. Koontz, 1999. "Marketing Agreement Impacts in an Experimental Market for Fed Cattle," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, Agricultural and Applied Economics Association, vol. 81(2), pages 347-358.
  13. Morrison, Catherine J., 1997. "Economic performance, cost economies and pricing behaviour in the US and Australian meat products industries," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, Australian Agricultural and Resource Economics Society, vol. 41(3), September.
  14. Azzam, Azzeddine M., 1998. "Competition in the US meatpacking industry: is it history?," Agricultural Economics, Blackwell, Blackwell, vol. 18(2), pages 107-126, March.
  15. 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.
  16. S. W. Davies & Paul A. Geroski, 2000. "Changes In Concentration, Turbulence, And The Dynamics Of Market Shares," The Review of Economics and Statistics, MIT Press, vol. 79(3), pages 383-391, August.
  17. Jones, Rodney D. & Schroeder, Ted C. & Mintert, James R. & Brazle, Frank, 1992. "The Impacts Of Quality On Cash Fed Cattle Prices," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, Southern Agricultural Economics Association, vol. 24(02), December.
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Cited by:
  1. John Crespi & Richard Sexton, 2005. "A Multinomial Logit Framework to Estimate Bid Shading in Procurement Auctions: Application to Cattle Sales in the Texas Panhandle," Review of Industrial Organization, Springer, Springer, vol. 27(3), pages 253-278, November.

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