Tomatoes, Technology, and Oligopsony

Richard E. Just · Wen Shyong Charlie Chern

113 citations0/0 files storedThe Bell Journal of Economics

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Merger and Competition Analysis Agricultural economics and policies Economics of Agriculture and Food Markets

Abstract

This paper draws on the theory of monopsony and oligopsony to develop an empirical test for the presence of the market power where an exogenous shock on the relevant market may be observed. An application of this test is demonstrated for the tomato processing industry, where the exogenous shock is created by the introduction of mechanical harvesting technology. The results are remarkably consistent with oligopsonistic dominant firm-price leadership. Statistical tests suggest rejection of the null hypothesis of competition.

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References

1966Theory of the Firm 1966Pooling Cross Section and Time Series Data in the Estimation of a Dynamic Model: The Demand for Natural Gas 1971The Use of Variance Components Models in Pooling Cross Section and Time Series Data 1971Further Evidence on the Estimation of Dynamic Economic Relations from a Time Series of Cross Sections

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