Estimation of relative bargaining power in markets for raw milk in the United States
Document title: Estimation of relative bargaining power in markets for raw milk in the United States
Journal: Journal of applied economics
Database: CLASE
System number: 000423948
ISSN: 1667-6726
Authors: 1
2
Institutions: 1Korea University, Department of Food and Resource Economics, Seúl. Corea del Sur
2University of California, Department of Agricultural and Resource Economics, Davis, California. Estados Unidos de América
Year:
Season: May
Volumen: 15
Number: 1
Pages: 1-23
Country: Argentina
Language: Inglés
Document type: Artículo
Approach: Analítico
English abstract This study contributes to the empirical industrial organization literature by deriving and estimating the empirical equation containing the parameter for bargaining power and an indicator of competition between suppliers. We specify a reduced form of the price equation, which is composed of the minimum price specified in milk marketing orders and the reduced form of the upper bound for the price in regional raw milk markets in the United States. Estimation results indicate that the relative bargaining power of dairy cooperatives in setting regional raw milk prices is small compared to the power of milk bottlers. We find the price differential in milk marketing orders has contributed to raise the price bargained between dairy cooperatives and milk bottlers
Disciplines: Economía
Keyword: Precios,
Empresas,
Condiciones económicas,
Leche,
Regateo,
Regulación económica,
Organización industrial,
Economía agrícola,
Estados Unidos de América
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