A Benefit-Function Approach to Studying Market Power: An Application to the U.S. Yogurt Market

This article provides a structural framework for studying the market performance of various food industries. It revisits the benefit-function approach to modeling demand and extends its application to the empirical industrial-organization literature. We illustrate the empirical value of our model in an econometric analysis of competitive conditions in the retail market for branded yogurt. The results show that retailers are engaged in imperfect competition. Furthermore, national brand yogurt remains an important tool for retail profitability.


Issue Date:
2013-08
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/157773
Published in:
Journal of Agricultural and Resource Economics, Volume 38, Number 2
Page range:
159-173
Total Pages:
15




 Record created 2017-04-01, last modified 2017-08-27

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