ESTIMATING MARKET POWER AND PRICING CONDUCT IN A PRODUCT-DIFFERENTIATED OLIGOPOLY: THE CASE OF THE DOMESTIC SPAGHETTI SAUCE INDUSTRY Reportar como inadecuado




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This paper develops a simultaneous-equations panel data econometric model to obtain point estimates of market power and pricing conduct in a representative product-differentiated, oligopolistic food market. The importance of this class of markets is recognized given its prevalence in the food and fiber system, especially for final consumer food products. The $1.3 billion domestic spaghetti sauce industry is featured. Although the results indicate firms exert limited market power, a portion of this power is derived from tacit price collusion. A higher degree of price collusion was found among brands within a market segment than between segments.

Keywords: market power ; oligopoly ; pricing conduct ; product differentiation

Subject(s): Marketing

Issue Date: 1999-04

Publication Type: Journal Article

PURL Identifier: http://purl.umn.edu/15137 Published in: Journal of Agricultural and Applied Economics, Volume 31, Number 1 Page range: 1-13

Total Pages: 13

Record appears in: Southern Agricultural Economics Association (SAEA) > Journal of Agricultural and Applied Economics





Autor: Vickner, Steven S. ; Davies, Stephen P.

Fuente: http://ageconsearch.umn.edu/record/15137?ln=en



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