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On the effects of technology improvements in multi-market models: Theory and evidence

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Abstract

The purpose of this paper is to develop the methodology that allows the inclusion of a technology variable in multi-market welfare models. We compare the price induced welfare effects obtained from a multimarket technology-inclusive model, a multimarket technology-exclusive model and a single-market model. An application to the Greek cotton market shows that the omission of the effects of technology biases the estimated welfare effects. Moreover, welfare estimates from the multi-market approach carry superior statistical properties than estimates obtained from the single-market approach.

Suggested Citation

  • Dimitrios Dadakas & Stelios D Katranidis & David S. Bullock, 2009. "On the effects of technology improvements in multi-market models: Theory and evidence," Discussion Paper Series 2009_04, Department of Economics, University of Macedonia, revised Mar 2009.
  • Handle: RePEc:mcd:mcddps:2009_04
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    File URL: http://aphrodite.uom.gr/econwp/pdf/wp0904.pdf
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    References listed on IDEAS

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    1. Jeong, Kyeong-Soo & Garcia, Philip & Bullock, David S., 2003. "A statistical method of multi-market welfare analysis applied to Japanese beef policy liberalization," Journal of Policy Modeling, Elsevier, vol. 25(3), pages 237-256, April.
    2. Dimitrios Dadakas & Stelios Katranidis, 2008. "Single Versus Multi-market Approach: An Application to the Greek Cotton Market," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 36(4), pages 469-481, December.
    3. Stelios D. Katranidis & Elisavet I. Nitsi & David S. Bullock, 2005. "The effects of EU corn, cotton, and sugar beet policies on Greek producers: a multimarket analysis," Agricultural Economics, International Association of Agricultural Economists, vol. 33(s3), pages 423-430, November.
    4. Stelios Katranidis & Gregory Kordas & Kostas Velentzas, 2003. "Welfare analysis and bootstrapping," Applied Economics Letters, Taylor & Francis Journals, vol. 10(6), pages 335-338.
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    Cited by:

    1. Dimitrios Dadakas & Stelios D. Katranidis, 2011. "Perspectives for the textiles and clothing industry in Greece: Past experience, outlook and policy implications," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 61(1-2), pages 13-38, January -.

    More about this item

    Keywords

    Multi-Market; Single Market; Technology; Bootstrap; Trade Liberalization.;

    JEL classification:

    • D6 - Microeconomics - - Welfare Economics
    • F1 - International Economics - - Trade
    • C0 - Mathematical and Quantitative Methods - - General

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