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| Author: | Azzam, A. M. |
| Title: | Measuring market power and cost-efficiency effects of industrial concentration |
| Journal: | Journal of Industrial Economics
1997 : DEC, Vol. 45:4, p. 377-386 |
| Index terms: | MARKET POTENTIAL COST EFFECTIVENESS INDUSTRIAL CONCENTRATION |
| Language: | eng |
| Abstract: | This paper shows how Appelbaum's framework for testing price-taking behavior in a single industry can be formally extended to consider concentration explicitly. In so doing the market power effect of concentration will be separated from its cost-efficiency effect. Data from the US beef-packing industry are used to illustrate an empirical application of the model. The findings support oligopsonistic market power and slaughter-cost efficiency in the industry. However, the cost-efficiency effect outweights the market-power effect. |
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