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Evaluating Traditional Share-Price and Residual Demand Measures of Market Power in the Catsup Industry

  • Lawrence E. Haller
  • Ronald W. Cotterill

In this paper we specify a price determination model which can test both the traditional positive interbrand price ? share hypothesis and the negative intrabrand relationship predicted by residual demand analysis. We evaluate this relationship empirically using three-dimensional panel data from the catsup industry. We find support for both hypothesized relationships, and conclude that market power exists in this industry. Further, we conclude that the results depend critically on the characteristics of the data set to be analyzed.

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Paper provided by University of Connecticut, Department of Agricultural and Resource Economics, Charles J. Zwick Center for Food and Resource Policy in its series Food Marketing Policy Center Research Reports with number 031.

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Date of creation: 1996
Date of revision:
Handle: RePEc:zwi:fpcrep:031
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  1. Nelson, Philip & Siegfried, John J & Howell, John, 1992. "A Simultaneous Equations Model of Coffee Brand Pricing and Advertising," The Review of Economics and Statistics, MIT Press, vol. 74(1), pages 54-63, February.
  2. Cotterill, Ronald W, 1986. "Market Power in the Retail Food Industry: Evidence from Vermont," The Review of Economics and Statistics, MIT Press, vol. 68(3), pages 379-86, August.
  3. Connor, John M & Peterson, Everett B, 1992. "Market-Structure Determinants of National Brand-Private Label Price Differences of Manufactured Food Products," Journal of Industrial Economics, Wiley Blackwell, vol. 40(2), pages 157-71, June.
  4. Harris, Frederick H deB, 1988. "Testable Competing Hypotheses from Structure-Performance Theory: Efficient Structure versus Market Power," Journal of Industrial Economics, Wiley Blackwell, vol. 36(3), pages 267-80, March.
  5. Cotterill, Ronald W. & Haller, Lawrence E., 1994. "Market Strategies in Branded Dairy Product Markets," Research Reports 25149, University of Connecticut, Food Marketing Policy Center.
  6. Cotterill, Ronald W., 1994. "Scanner Data: New Opportunities For Demand And Competitive Strategy Analysis," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 23(2), October.
  7. Raymond Deneckere & Carl Davidson, 1985. "Incentives to Form Coalitions with Bertrand Competition," RAND Journal of Economics, The RAND Corporation, vol. 16(4), pages 473-486, Winter.
  8. Nelson, Philip, 1974. "Advertising as Information," Journal of Political Economy, University of Chicago Press, vol. 82(4), pages 729-54, July/Aug..
  9. Baker, Jonathan B. & Bresnahan, Timothy F., 1988. "Estimating the residual demand curve facing a single firm," International Journal of Industrial Organization, Elsevier, vol. 6(3), pages 283-300.
  10. Wills, Robert L., 1984. "Advertising and Quality as Sources of Price Heterogeneity Among Brands of Food Products," Working Papers 203001, University of Wisconsin-Madison, Department of Agricultural and Applied Economics, Food System Research Group.
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