Degree of Instant Competition! Estimation of Market Power in India’s Instant Coffee Market
New competition policy seeks to promote competition and increase market efficiency. In fact, degree of price transmission between farmers and final consumers depends on degree of competition in processing sector. Moreover, trade liberalization policy is expected to influence domestic markets. Hence, it becomes imperative to know the degree of competition in various industries. India's instant coffee market is a duopoly of the firms- Nestlé and Hindustan Lever. We econometrically estimate the degree of competition in this market. Results indicate that market is not characterized by collusive behaviour. It is close to perfect competition although we cannot reject the Cournot-Nash behaviour.
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Volume (Year): 43 (2008)
Issue (Month): 2 (December)
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- Bresnahan, Timothy F., 1982. "The oligopoly solution concept is identified," Economics Letters, Elsevier, vol. 10(1-2), pages 87-92.
- 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.
- William James Adams, 2006. "Markets: Beer in Germany and the United States," Journal of Economic Perspectives, American Economic Association, vol. 20(1), pages 189-205, Winter.
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- James W. Friedman, 1971. "A Non-cooperative Equilibrium for Supergames," Review of Economic Studies, Oxford University Press, vol. 38(1), pages 1-12.
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