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Stationarity Tests In Geographic Markets: An Application To South African Milk Markets

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  • Willem h. Boshoff

Abstract

The paper focuses on the delineation of geographic markets in competition analysis, investigating the use of tests of price co-movement in the market definition exercise. To this end, the first part is devoted to a conceptual framework for market definition (adopted from Haldrup (2003 )). Thereafter, a variety of price tests are explored that can be applied within the quantitative part of the framework. Similar to Forni (2004 ), the paper emphasizes the use of stationarity tests (that is, tests for the existence of unit roots) - illustrating their application to a recent competition investigation in South Africa. Copyright (c) 2007 The Author. Journal compilation (c) 2007 Economic Society of South Africa.

Suggested Citation

  • Willem h. Boshoff, 2007. "Stationarity Tests In Geographic Markets: An Application To South African Milk Markets," South African Journal of Economics, Economic Society of South Africa, vol. 75(1), pages 52-65, March.
  • Handle: RePEc:bla:sajeco:v:75:y:2007:i:1:p:52-65
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    References listed on IDEAS

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    1. C John McDermott & Alasdair Scott, 1999. "Concordance in business cycles," Reserve Bank of New Zealand Discussion Paper Series G99/7, Reserve Bank of New Zealand.
    2. Niels Haldrup & Peter Møllgaard & Claus Kastberg Nielsen, 2008. "Sequential Versus Simultaneous Market Delineation: The Relevant Antitrust Market For Salmon," Journal of Competition Law and Economics, Oxford University Press, vol. 4(3), pages 893-913.
    3. Haldrup, Niels, "undated". "Empirical analysis of price data in the delineation of the relevant geographical market in competition analysis," Economics Working Papers 2003-9, Department of Economics and Business Economics, Aarhus University.
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    Cited by:

    1. Willem H. Boshoff, 2013. "Why define markets in competition cases?," Working Papers 10/2013, Stellenbosch University, Department of Economics.
    2. Zipitria, Leandro, 2010. "New Directions in Price Test for Market Definition," MPRA Paper 58046, University Library of Munich, Germany.
    3. Katsoulacos Yannis & Metsiou Eleni & Tsionas Efthymios & Konstantakopoulou Ioanna, 2014. "Quantitative Price Tests in Antitrust Market Definition with an Application to the Savory Snacks Markets," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 12(1), pages 1-33, January.
    4. Willem H. Boshoff, 2015. "Illegal Cartel Overcharges in Markets with a Legal Cartel History: Bitumen Prices in South Africa," South African Journal of Economics, Economic Society of South Africa, vol. 83(2), pages 220-239, June.

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