Economics, Econometrics and Finance
8 years ago

US beef industry dominated by market power, but cost efficiency prevails.

1 view
Journal of Industrial Economics
Measuring Market Power and Cost‐efficiency Effects of Industrial Concentration
Azzeddine Azzam

Paper Summary

The article examines how concentration in the beef-packing industry affects market power and cost efficiency. The researchers use a model to analyze data and find that the industry shows signs of having market power due to limited competition among buyers, but cost efficiency plays a bigger role in influencing prices than market power does.

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