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Market Delineation and Demand Structure

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  • Kjell G. Salvanes

Abstract

This paper addresses the relationship between the cointegration approach to market delineation and the more traditional approach of analyzing the demand structure among different products in terms of degree of substitutability. Cointegration tests for market delineation and estimation of a dynamic system of demand equations are undertaken utilizing the same data set. The data set consists of three high-quality seafood products in the European Union. The results are encouraging as the results from the two approaches are not only compatible, but are also complementary in the sense that they provide more information together than they do separately. Copyright 1997, Oxford University Press.

Suggested Citation

  • Kjell G. Salvanes, 1997. "Market Delineation and Demand Structure," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(1), pages 139-150.
  • Handle: RePEc:oup:ajagec:v:79:y:1997:i:1:p:139-150
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    File URL: http://hdl.handle.net/10.2307/1243949
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    Cited by:

    1. Steen, Frode & Salvanes, Kjell G., 1999. "Testing for market power using a dynamic oligopoly model," International Journal of Industrial Organization, Elsevier, vol. 17(2), pages 147-177, February.
    2. Panos Fousekis & Brian J. Revell, 2002. "Primary Demand for Red Meats in the United Kingdom," Cahiers d'Economie et Sociologie Rurales, INRA Department of Economics, vol. 63, pages 31-50.
    3. repec:oup:apecpp:v:39:y:2017:i:3:p:479-498. is not listed on IDEAS
    4. Lisbeth la Cour & H. Møllgaard, 2002. "Market Domination: Tests Applied to the Danish Cement Industry," European Journal of Law and Economics, Springer, vol. 14(2), pages 99-127, September.
    5. Martin F. Quaas & Till Requate, 2013. "Sushi or Fish Fingers? Seafood Diversity, Collapsing Fish Stocks, and Multispecies Fishery Management," Scandinavian Journal of Economics, Wiley Blackwell, vol. 115(2), pages 381-422, April.
    6. Fofana, Abdulai & Clayton, Patty, 2003. "Demand Interaction Between Farmed Salmon And Wild Caught Fish In The United Kingdom," Miscellaneous Papers 11828, Agecon Search.
    7. Frank Asche & Helge Bremnes & Cathy R. Wessells, 1999. "Product Aggregation, Market Integration, and Relationships between Prices: An Application to World Salmon Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(3), pages 568-581.
    8. Asche, Frank & Steen, Frode, 2006. "When Anti-Dumping Measures Lead to Increased Market Power: A Case Study of the European Salmon Market," CEPR Discussion Papers 5781, C.E.P.R. Discussion Papers.
    9. Frank Asche, 2001. "Testing the effect of an anti-dumping duty: The US salmon market," Empirical Economics, Springer, vol. 26(2), pages 343-355.
    10. Sean Pascoe & Andy Revill, 2004. "Costs and Benefits of Bycatch Reduction Devices in European Brown Shrimp Trawl Fisheries," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 27(1), pages 43-64, January.
    11. Fofana, Abdulai & Jaffry, Shabbar, 2008. "Measuring Oligopsony Power of UK Salmon Retailers," Working Papers 61116, Scotland's Rural College (formerly Scottish Agricultural College), Land Economy & Environment Research Group.
    12. Asche, Frank & Gordon, Daniel V. & Hannesson, Rognvaldur, 1998. "Price Founded Tests For Market Integration: Fish Markets In France," 1998 Annual meeting, August 2-5, Salt Lake City, UT 20904, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    13. Jones, Keithly G. & Harvey, David J. & Hahn, William F. & Muhammad, Andrew, 2008. "U.S. Demand for Source–Differentiated Shrimp: A Differential Approach," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 40(02), August.
    14. Muldoon, Geoffrey & Johnston, Bill, 2006. "Market chain analysis for the trade in live reef food fish," 2006 Conference (50th), February 8-10, 2006, Sydney, Australia 139883, Australian Agricultural and Resource Economics Society.
    15. Rausser, Gordon & Hamilton, Stephen & Kovach, Marty & Stifter, Ryan, 2009. "Unintended consequences: The spillover effects of common property regulations," Marine Policy, Elsevier, vol. 33(1), pages 24-39, January.
    16. Ghoshray, Atanu, 2006. "Market Delineation and Price Leadership in the World Wheat Market: A Cointegration Analysis," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 35(2), October.
    17. Fofana, Abdulai & Jaffry, Shabbar, 2006. "Measuring Market Power in the UK Retail Salmon Industry," Working Papers 45873, Scotland's Rural College (formerly Scottish Agricultural College), Land Economy & Environment Research Group.
    18. Fofana, Abdulai & Jaffry, Shabbar, 2006. "Measuring Market Power in the UK Retail Salmon Industry," Working Papers 45873, Scottish Agricultural College, Land Economy Research Group.
    19. Toshinobu Matsuda, 2006. "Linear approximations to the quadratic almost ideal demand system," Empirical Economics, Springer, vol. 31(3), pages 663-675, September.
    20. Vladimír Hajko & Jaroslav Bil, 2013. "The Relevant Markets for Meat Production and Processing in the Czech Republic: Analysis of the Price Movements," Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 7(3), pages 178-197, November.
    21. Lee, Young-Jae & Kennedy, P. Lynn, 2009. "Measurement Of Substitutability Between U.S. Domestic Catfish And Imported Fish," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia 46782, Southern Agricultural Economics Association.
    22. Vinuya, Ferdinand D., 2006. "Testing for Market Integration and the Law of One Price in World Shrimp Markets," 2006 Annual Meeting, February 5-8, 2006, Orlando, Florida 35351, Southern Agricultural Economics Association.
    23. Asche, Frank & Guttormsen, Atle G. & Kristofersson, Dadi & Roheim, Cathy A., 2005. "Import Demand Estimation and the Generalized Composite Commodity Theorem," 2005 Annual meeting, July 24-27, Providence, RI 19432, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    24. Ly, Nguyen & Henry, Kinnucan, 2016. "Some Effects of Income and Population Growth on Fish Price and Welfare," 2016 Annual Meeting, February 6-9, 2016, San Antonio, Texas 229892, Southern Agricultural Economics Association.

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