Retail Oligopoly Power And Fluid Milk Prices In Boston
This paper assesses the independent and joint impacts of oligopoly power of market intermediaries and the Northeast Dairy Compact (NEDC) on fluid milk prices in Boston. Empirical results reveal that price increases due to oligopoly power far outweighed those caused by the NEDC by more than 10 times. In fact, markups are estimated at approximately 33% of the retail milk price, translating into approximately $1/gallon overcharge at 2002 milk prices averaging around $3/gallon.
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- Amemiya, Takeshi, 1974. "The nonlinear two-stage least-squares estimator," Journal of Econometrics, Elsevier, vol. 2(2), pages 105-110, July.
- Lass, Daniel A. & Adanu, Mawunyo & Allen, P. Geoffrey, 2001. "Impacts Of The Northeast Dairy Compact On New England Retail Prices," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 30(1), April.
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