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Assessing Oligopoly and Oligopsony Power in the U.S. Catfish Industry

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  • Bouras, David
  • Engle, Carole R.

Abstract

This paper addresses the issue of competition in the U.S. catfish industry. To this end, a conjectural variation oligopolistic model was developed. The model was estimated econometrically using the Generalized Method of Moments (GMM) procedure. Chi-square analysis implied that catfish processors do not exert market power over farmers or over consumers. The conjectural elasticity was estimated to be 0.073, the oligopoly power index 0.28, and the oligopsony power index 0.68, and none of these values were statistically significant. The results support competitive behavior of the catfish processing sector.

Suggested Citation

  • Bouras, David & Engle, Carole R., 2007. "Assessing Oligopoly and Oligopsony Power in the U.S. Catfish Industry," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 25(01), pages 1-11.
    • Handle: RePEc:ags:jloagb:62284
    DOI: 10.22004/ag.econ.62284
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    References listed on IDEAS

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    1. Steen, Frode & Salvanes, Kjell G., 1999. "Testing for market power using a dynamic oligopoly model," International Journal of Industrial Organization, Elsevier, vol. 17(2), pages 147-177, February.
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    Cited by:

    1. Lumnije Thaçi, 2022. "Bank Loans Types and Economic Growth - Literature Review," European Journal of Economics and Business Studies Articles, Revistia Research and Publishing, vol. 8, ejes_v8_i.
    2. David Bouras & Troy Frank & Eric Burgess, 2017. "Functional Forms and Oligopolistic Models: An Empirical Analysis," International Journal of Economics and Financial Issues, Econjournals, vol. 7(4), pages 645-649.

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