Market power on the edge? An analysis of the German and Hungarian hog markets
A structural market model is estimated to analyse the impact of market power on resource allocation in the German and Hungarian pork markets. The regression analyses suggest that market power exists, although on a relatively low level. Moreover, the estimates show that processors might pursue Cournot strategies. In addition, we observe that the market power of processors in the German hog sector is decreasing, while in the Hungarian sector it is increasing. These results are consistent with the structural developments in pork production and pork processing. Ein strukturelles Marktmodell wird geschÃ¤tzt, um zu beurteilen, ob die AusÃ¼bung von Marktmacht die Ressourcenallokation auf den deutschen und ungarischen SchweinefleischmÃ¤rkten verzerrt. Die Regressionsanalysen zeigen, dass zwar nicht von perfekten MÃ¤rkten ausgegangen werden kann, die durch die AusÃ¼bung von Marktmacht bedingten Verzerrungen allerdings als gering anzusehen sind. Die SchÃ¤tzungen implizieren, dass die Fleischverarbeiter sich konsistent mit der Verfolgung von Cournot-Strategien verhalten. ZusÃ¤tzlich deuten die SchÃ¤tzungen darauf hin, dass die Marktmacht der Verarbeiter im deutschen Schweinesektor abnehmend ist, wÃ¤hrend sie sich im ungarischen Sektor erhÃ¶ht. Diese Resultate stimmen mit den strukturellen Entwicklungen in der Schweinefleischproduktion und in der Schweinefleischverarbeitung Ã¼berein.
Volume (Year): 58 (2009)
Issue (Month): 8 ()
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