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Review of Marketing and Agricultural Economics >
Volume 36, Number 03, September 1968 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/9129
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| Title: | Competitive Behaviour in the International Wheat Market |
| Authors: | Freebairn, John W. |
| Issue Date: | 1968-09 |
| Abstract: | A model of the organization of the international wheat market is presented (a) to explain historical competitive behaviour in the market and (b) as a framework for analysing the likely effects of changes in market conditions on competitive behaviour. In the model the market is segmented into three interdependent sub-markets. The hard wheat sub-market is characterized by a co-operative duopoly model with Canada as the price leader, with the United States as the usually silent partner, and with a fringe of competitors. The soft wheat and durum wheat sub-markets are characterized by oligopoly models based on imperfect collusion between the three main respective sellers, and with a fringe of competitors. It is found that prices (particularly of hard wheats) are more stable and higher than would be prices formed under free market conditions and there is a greater emphasis on the use of non-price competition. The model indicates the importance of domestic agricultural policies in assuring continued stability in the market. |
| URI: | http://purl.umn.edu/9129 |
| Institution/Association: | Review of Marketing and Agricultural Economics>Volume 36, Number 03, September 1968 |
| Total Pages: | 14 |
| Language: | English |
| From Page: | 111 |
| To Page: | 124 |
| Collections: | Volume 36, Number 03, September 1968
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| 36030111.pdf | 700Kb | PDF | View/Open |
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