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Oligopoly Pricing in the World Wheat Market


  • Chris M. Alaouze
  • A. S. Watson
  • N. H. Sturgess


When the residual demand curve for wheat facing the United States and Canada shifts to the left, or when the exportable surplus of Australia is large, market-shares of these duopolists are reduced. Such circumstances lead to the formation of a market-share triopoly with Australia. The evidence for this proposition is examined and a model of triopoly pricing in the world wheat market is presented. If major exporters continue to be concerned with relative market-shares, the triopoly will reform, stocks will accumulate, and lower prices will prevail; however, prices will be more variable, and possibly higher, than before 1972/73.

Suggested Citation

  • Chris M. Alaouze & A. S. Watson & N. H. Sturgess, 1978. "Oligopoly Pricing in the World Wheat Market," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 60(2), pages 173-185.
  • Handle: RePEc:oup:ajagec:v:60:y:1978:i:2:p:173-185.

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