Measuring Market Power and Welfare Losses in the Greek Food and Beverages Manufacturing Industry
This article tests for the degree of market power in the Greek food and beverages manufacturing industry over the period 1983–2007 based on the Bresnahan’s conjectural variation model of competition. It also adopts the methodology of Dickson and Yu to estimate the net and the total welfare losses due to the possible existence of market power. The bootstrap method is applied to assign measures of accuracy to the statistical estimates. The empirical results indicate the presence of some degree of market power in the Greek food and beverages manufacturing industry and the existence of welfare losses.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 10 (2012)
Issue (Month): 1 (April)
|Contact details of provider:|| Web page: https://www.degruyter.com|
|Order Information:||Web: https://www.degruyter.com/view/j/jafio|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- John D. Lyon & Brad M. Barber & Chih-Ling Tsai, 1999. "Improved Methods for Tests of Long-Run Abnormal Stock Returns," Journal of Finance, American Finance Association, vol. 54(1), pages 165-201, 02.
- Bresnahan, Timothy F., 1982. "The oligopoly solution concept is identified," Economics Letters, Elsevier, vol. 10(1-2), pages 87-92.
- Liu, Donald J. & Sun, Chin-Hwa & Kaiser, Harry M., 1995. "Market Conduct Under Government Price Intervention In The U.S. Dairy Industry," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 20(02), December.
- Millan, Joaquin A, 1999. "Short-Run Equilibrium and Market Power in the Spanish Food, Drink and Tobacco Industries," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 26(2), pages 229-243, June.
- Everett B. Peterson & John M. Connor, 1995. "A Comparison of Oligopoly Welfare Loss Estimates for U.S. Food Manufacturing," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 77(2), pages 300-308.
- Dickson, V. A. & Yu, Weiqiu, 1989. "Welfare losses in Canadian manufacturing under alternative oligopoly regimes," International Journal of Industrial Organization, Elsevier, vol. 7(2), pages 257-267, June.
- Bhuyan, Sanjib & Lopez, Rigoberto A., 1998. "What Determines Welfare Losses From Oligopoly Power In The Food And Tobacco Industries?," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 27(2), October.
- Cowling, Keith & Waterson, Michael, 1976. "Price-Cost Margins and Market Structure," Economica, London School of Economics and Political Science, vol. 43(171), pages 267-274, August.
- Lau, Lawrence J., 1982. "On identifying the degree of competitiveness from industry price and output data," Economics Letters, Elsevier, vol. 10(1-2), pages 93-99.
- A. M. Azzam & E. Pagoulatos, 1990. "Testing Oligopolistic And Oligopsonistic Behaviour: An Application To The Us Meat-Packing Industry," Journal of Agricultural Economics, Wiley Blackwell, vol. 41(3), pages 362-370.
- Elena Argentesi & Lapo Filistrucchi, 2007.
"Estimating market power in a two-sided market: The case of newspapers,"
Journal of Applied Econometrics,
John Wiley & Sons, Ltd., vol. 22(7), pages 1247-1266.
- Elena Argentesi & Lapo Filistrucchi, 2005. "Estimating market power in a two-sided market: the case of newspapers," Economics Working Papers ECO2005/07, European University Institute.
- Sanjib Bhuyan & Rigoberto A. Lopez, 1997. "Oligopoly Power in the Food and Tobacco Industries," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(3), pages 1035-1043.
- Rigoberto Lopez & Azzeddine Azzam & Carmen Lirón-España, 2002. "Market Power and/or Efficiency: A Structural Approach," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 20(2), pages 115-126, March.
- Pascal Lavergne & Vincent Réquillart & Michel Simioni, 2001. "Welfare Losses Due to Market Power: Hicksian versus Marshallian Measurement," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(1), pages 157-165.
- Kothari, S. P. & Shanken, Jay, 1997. "Book-to-market, dividend yield, and expected market returns: A time-series analysis," Journal of Financial Economics, Elsevier, vol. 44(2), pages 169-203, May.
- Deodhar, Satish Y. & Sheldon, Ian M., 1996. "Estimation Of Imperfect Competition In Food Marketing: A Dynamic Analysis Of The German Banana Market," Journal of Food Distribution Research, Food Distribution Research Society, vol. 27(3), pages -, October.
- Esfandiar Maasoumi & Daniel Slottje, 2003. "Dynamics of Market Power and Concentration Profiles," Econometric Reviews, Taylor & Francis Journals, vol. 22(2), pages 155-177.
When requesting a correction, please mention this item's handle: RePEc:bpj:bjafio:v:10:y:2012:i:1:n:4. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Peter Golla)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.