WHAT DETERMINES WELFARE LOSSES FROM OLIGOPOLY POWER IN THE FOOD AND TOBACCO INDUSTRIES?

This paper estimates welfare losses in thirty-eight U.S. food and tobacco industries at the four-digit SIC level, then relates such losses to market structure and conduct variables to identify the welfare loss determinants. Empirical findings indicate that these losses are higher in markets characterized by high export intensity, high advertising expenditures, economies of scale, mergers and acquisitions, and market concentration. In addition, losses are larger in industries that sell finished consumer products and face lower import competition.


Subject(s):
Issue Date:
1998-10
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/31519
Published in:
Agricultural and Resource Economics Review, Volume 27, Number 2
Page range:
258-265
Total Pages:
8




 Record created 2017-04-01, last modified 2017-08-24

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