BACKWARD IMPLICIT CONTRACTS, PRE-COMMITMENT AND MARKET POWER IN THE INTERNATIONAL DURUM WHEAT MARKET

Kyle Stiegert and Stephen F. Hamilton ()

No 20833, 1998 Annual meeting, August 2-5, Salt Lake City, UT from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: We devise a formal test of market power that is applied to the international durum market. The model captures the asymmetric cost structure brought about the initial payment system of the Canadian Wheat Board. The model generates testable hypotheses about market conduct and optimal strategic positioning.

Keywords: Crop Production/Industries; Industrial Organization (search for similar items in EconPapers)
Date: 1998
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