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A Dynamic Model of Oligopoly in the Coffee Export Market

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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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    File URL: http://hdl.handle.net/10.2307/1242929
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