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Some Market Power Implications Of The Shipping Act Of 1984: A Case Study Of The U.S. To Pacific Rim Transportation Markets

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  • Wilson, Wesley W.
  • Casavant, Kenneth L.

Abstract

The shipping Act of 1984 represents a new attempt to balance the benefits of a conference (cartel) system against its costs. This legislation may have increased conference market power by streamlining the regulatory process and expanding antitrust immunity. Alternatively, the legislation may have decreased conference market power by providing for the Mandatory Right to Independent Action and Service Contracts. We develop and estimate an econometric model and find that any increased market power is offset by competitive provisions when those competitive provision apply. However, when those provisions do not apply, the Act may increase market power.

Suggested Citation

  • Wilson, Wesley W. & Casavant, Kenneth L., 1991. "Some Market Power Implications Of The Shipping Act Of 1984: A Case Study Of The U.S. To Pacific Rim Transportation Markets," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 16(2), pages 1-8, December.
    • Handle: RePEc:ags:wjagec:32596
    DOI: 10.22004/ag.econ.32596
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    References listed on IDEAS

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    1. Davies, J E, 1983. "An Analysis of Cost and Supply Conditions in the Liner Shipping Industry," Journal of Industrial Economics, Wiley Blackwell, vol. 31(4), pages 417-435, June.
    2. Bresnahan, Timothy F., 1989. "Empirical studies of industries with market power," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 17, pages 1011-1057, Elsevier.
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    Cited by:

    1. Takuma Matsuda & Suguru Otani, 2022. "Unified Container Shipping Industry Data From 1966: Freight Rate, Shipping Quantity, Newbuilding, Secondhand, and Scrap Price," Papers 2211.16292, arXiv.org, revised Apr 2023.
    2. Suguru Otani & Takuma Matsuda, 2023. "Unified Merger List in the Container Shipping Industry from 1966: A Structural Estimation of the Transition of Importance of a Firm's Age, Tonnage Capacity, and Geographical Proximity on Merger Decisi," Papers 2310.09938, arXiv.org, revised Nov 2023.
    3. Suzuki, Nobuhiro & Kaiser, Harry M. & Lenz, John E. & Forker, Olan D., 1993. "Evaluating U.S. Generic Milk Advertising Effectiveness Using An Imperfect Competition Model," Research Bulletins 123015, Cornell University, Department of Applied Economics and Management.

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