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A Dynamic Model of Oligopoly in the Coffee Export Market

Author

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  • Larry S. Karp
  • Jeffrey M. Perloff

Abstract

A linear-quadratic, dynamic feedback oligopoly model that nests various market structures is used to estimate the degree of competitiveness and the adjustment paths of the two largest coffee exporters, Brazil and Colombia. Their estimated behavior is relatively competitive. This subgame perfect dynamic model is compared to a standard static oligopoly model and the open-loop model (the dynamic generalization of the standard static model). Both classical and Bayesian tests of open-loop and feedback dynamic models are reported.

Suggested Citation

  • Larry S. Karp & Jeffrey M. Perloff, 1993. "A Dynamic Model of Oligopoly in the Coffee Export Market," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(2), pages 448-457.
  • Handle: RePEc:oup:ajagec:v:75:y:1993:i:2:p:448-457.
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    Cited by:

    1. Jun, Byoung & Vives, Xavier, 2001. "Incentives in Dynamic Duopoly," CEPR Discussion Papers 2899, C.E.P.R. Discussion Papers.
    2. Tohru Wako & Hiroshi Ohta, 2015. "Bowley Duopoly Under Vertical Relations," Pacific Economic Review, Wiley Blackwell, vol. 20(5), pages 778-790, December.
    3. Lyons, Robert F. & Goodhue, Rachael E. & Rausser, Gordon C., 1998. "A dynamic model of the food processing sector in the new market economies of Central Europe," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt79m6s9c5, Department of Agricultural & Resource Economics, UC Berkeley.
    4. Mitsuru Igami, 2015. "Market Power in International Commodity Trade: The Case of Coffee," Journal of Industrial Economics, Wiley Blackwell, vol. 63(2), pages 225-248, June.
    5. Satish Y. Deodhar & Ian M. Sheldon, 1995. "Is Foreign Trade (Im)Perfectly Competitive?: An Analysis Of The German Market For Banana Imports," Journal of Agricultural Economics, Wiley Blackwell, vol. 46(3), pages 336-348.
    6. Alexandre Gohin & Hervé Guyomard, 2000. "Measuring Market Power for Food Retail Activities: French Evidence," Journal of Agricultural Economics, Wiley Blackwell, vol. 51(2), pages 181-195.
    7. Chalil, Diana, 2008. "Market power and subsidies in the Indonesian palm oil industry," 2008 Conference (52nd), February 5-8, 2008, Canberra, Australia 6022, Australian Agricultural and Resource Economics Society.
    8. Goo, Moon Mo, 1997. "The measurement of market power: short-run, long-run, and dynamic adjustment models," ISU General Staff Papers 1997010108000012985, Iowa State University, Department of Economics.
    9. Deodhar, Satish Y. & Fletcher, Stanley M., 1998. "Degree Of Competition In The U.S. Peanut Butter Industry: A Dynamic Error Correction Approach," Faculty Series 16725, University of Georgia, Department of Agricultural and Applied Economics.
    10. Richards, Timothy J. & Patterson, Paul M., 2002. "Strategic Interaction With Multiple Tools: A New Empirical Model," Working Papers 28545, Arizona State University, Morrison School of Agribusiness and Resource Management.
    11. repec:oup:erevae:v:44:y:2017:i:4:p:592-633. is not listed on IDEAS
    12. repec:bla:jindec:v:64:y:2016:i:4:p:808-834 is not listed on IDEAS
    13. Evans, Edwardv A. & Ballen, Fredy H., 2015. "Competitive Behavior in the U.S. Green Skin Avocado Market," Journal of Food Distribution Research, Food Distribution Research Society, vol. 46(3), November.

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