Market Structure and Spatial Price Dynamics

B Brorsen, Jean-Paul Chavas () and Warren R. Grant

Journal of Agricultural and Applied Economics, 1991, vol. 23, issue 2, 65-74

Abstract: A method was developed with time series models to test hypotheses about the relationship between market structure and spatial price dynamics. Long-run dynamic multipliers measuring the magnitude of lagged adjustment for spatial milled rice prices were calculated from the time series model and used as the dependent variable in a regression model that included a number of factors expected to influence price determination. Results show that price adjustments were slower as regional submarket concentration increased and were faster in the regions with a higher market share. Arkansas, the state with the largest market share, was consistently a price leader.

Date: 1991
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Journal Article: MARKET STRUCTURE AND SPATIAL PRICE DYNAMICS (1991)
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Persistent link: https://EconPapers.repec.org/RePEc:cup:jagaec:v:23:y:1991:i:02:p:65-74_01

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