Measuring The Degree Of Oligopsony Power In The Beef Packing Industry In The Absence Of Marketing Input Quantity Data
We develop a model to measure the degree of oligopsony power in the beef packing industry, while accommodating variable proportions technology, that can be estimated with fewer data requirements. In particular, nonspecialized input quantities, which are often not available, are not needed. Through application of the envelope theorem, we show that the relationship between value marginal product and marginal factor cost can be defined over the prices of the nonspecialized inputs rather than their corresponding quantities. When applied to the beef packing industry, we find no evidence of oligopsony power over our 1967-93 sample period.
Volume (Year): 24 (1999)
Issue (Month): 02 (December)
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- 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.
- Schroeter, John R., 1988. "Estimating the Degree of Market Power in the Beef Packing Industry," Staff General Research Papers 11114, Iowa State University, Department of Economics.
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- Catherine J. Morrison, 1997. "Structural Change, Capital Investment and Productivity in the Food Processing Industry," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(1), pages 110-125.
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- 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.
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