1,721,001 research outputs found
Location equilibria in a mixed duopsony with a cooperative
Full text linkThis work analyses a two-stage price–location game between a profit maximising firm and a primary producers’ cooperative. According to the results, the location equilibria are not fixed but depend on the intrinsic competitiveness of the spatial market. As the intrinsic competitiveness rises, the cooperative tends to be located closer to the middle point of the market. The limited differentiation in location entails an efficiency loss which is nevertheless smaller than that associated with the competition of two profit maximising firms (pure duopsony) on exactly the same spatial market. The superiority of a mixed duopsony lies in the fact that the resulting equilibrium locations entail lower total transportation cost relative to those of a pure duopsony
Quality Choices in a Vertical Structure: National Brands vs Private Labels in Grocery Retailing
Full text linkThe paper analyzes quality choices in a vertical structure involving a monopolist food manufacturer (national brand-NB producer) and a monopolist retailer supplying both the national brand as well as a private label (PL). The analysis is based on a threestage dynamic game. According to the results, in the Nash equilibrium the two players choose the maximum possible qualities for their products. This means that the B food manufacturer seeks the maximum product differentiation, while the LP retailer seeks the minimum product differentiation. The behavior of the two players appears to be consistent
with actual developments in the food markets as well as with earlier empirical studies
documenting the efforts of NB food manufacturers to increase product differentiation
Price Links Among Qualitatively Differentiated Meats: Evidence from The UK Wholesale Beef Market
Full text linkDISTANCE VS. RAY FUNCTIONS: AN APPLICATION TO THE INSHORE FISHERY OF GREECE
Full text linkThe objective of this paper is to compare the empirical results from two alternative representations of a stochastic multi-output technology using trip-level data of the inshore fleet in Greece. The comparisons involve technical efficiency scores, structure of the underlying technology, and technical efficiency determinants. The stochastic multi-output distance function and the stochastic ray production function indicate the same technology structure, which is non-separable in inputs and outputs, non-homothetic in inputs, and exhibits increasing returns to scale. The relative rankings of efficiency scores are very similar. The distributions of efficiency scores, however, are different, and the ray production frontier yields systematically lower technical inefficiency levels than the multi-output distance function.Resource /Energy Economics and Policy,
Cost Competitiveness in the Food, Beverages and Tobacco Manufacturing of the EU and the USA: A Convergence Analysis
Full text linkTime-series tests and analysis of disparities over time are employed in this paper to investigate convergence of cost competitiveness in the food, beverages, and tobacco manufacturing of 14 EU countries and the USA. According to the empirical results, there has been no uniform pattern of convergence across all countries for any of the three variables (unit labor cost, labor productivity, and wages) considered. There have been, however, converging dynamics for certain countries something which is consistent with club formation
International Consumption Patterns for Proteins and Fats: Intra-distributional Mobility and the Role of Income Elasticity
Full text linkStochastic kernels are used in this paper to investigate intra-distribution dynamics in the world per capita intakes of proteins and fats. The analysis of actual transitions over the last 40 years indicates that lagging countries improved their position relative to the leading. Long-run (steady-state) distributions have been obtained using estimated intake change models. These distributions have been compared to “virtual†ones revealing that the income elasticity of demand or equivalently the rate of growth in per capita income does have a strong influence on the dispersion of intakes at the steady-state.Nutrient Intakes, Stochastic Kernels, Agricultural and Food Policy, Q1, D12, C14,
Are Food Price Differences in EU Member States a Result of the Penn Effect?
Full text linkPanel data from 14 EU member states and non parametric techniques are used in this paper to investigate the relationship between food prices and real per capita incomes. The empirical results suggest that the Penn Effect largely holds for Total Food prices but not for the prices of certain among the seven disaggregate food commodities considered. In particular, for Cereals, for Fats and Oils, and for Other food products poorer countries are likely to face prices no lower than those prevailing in richer onesFood Prices, Living Standards, EU, Agricultural and Food Policy, Q11, C14,
International Consumption Patterns for Proteins and Fats: Intra-distributional Mobility and the Role of Income Elasticity
Full text linkStochastic kernels are used in this paper to investigate intra-distribution dynamics in
the world per capita intakes of proteins and fats. The analysis of actual transitions over
the last 40 years indicates that lagging countries improved their position relative to the
leading. Long-run (steady-state) distributions have been obtained using estimated intake
change models. These distributions have been compared to “virtual” ones revealing
that the income elasticity of demand or equivalently the rate of growth in per capita
income does have a strong influence on the dispersion of intakes at the steady-state
Convergence of Relative State-level Per Capita Incomes in the United States Revisited
Full text linkIn this paper convergence in per capita incomes (personal and disposable) in US states over 1929-2005 is revisited using the notion of relative stochastic convergence and stationarity tests for panel data. According to the results, although the dispersion of per capita income be-came stationary by the early 1960s a large proportion of states have not converged to the na-tional average. The presence of diverging states indicates that a long-run (steady-state) distri-bution in relative incomes has not yet been attained, something which contrasts sharply with the findings of earlier empirical studies on the topic
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