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Marketing Margins, Market Power, and Price Uncertainty

Listed author(s):
  • Schroeter, John R.
  • Azzam, Azzeddine M.

This paper provides a conceptual and empirical framework for analyzing marketing margins in a noncompetitive food-processing industry facing output price uncertainty. The framework allows the decomposition of observed margins into components reflecting the marginal cost of the processing industry, oligopoly/oligopsony price distortions, and an output price risk component. The empirical procedure is applied to a time series of spreads between wholesale pork prices and farm prices of market hogs. The principal finding is that, while farm/wholesale margins are more consistent with competitive performance now than they were fifteen years ago, the output price risk component persisted throughout the sample period.

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Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers Archive with number 11110.

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Date of creation: 01 Nov 1991
Publication status: Published in American Journal of Agricultural Economics, November 1991, vol. 73 no. 4, pp. 990-999
Handle: RePEc:isu:genres:11110
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Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070

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