A Simultaneous Analysis of Food Industry Conduct

James A. Zeller

American Journal of Agricultural Economics, 1989, vol. 71, issue 1, 105-115

Abstract: Intense advertising and new product introduction are substitute forms of entry-deterring conduct practiced by producers of more differentiable food products. A simultaneous equation model is estimated to explain the relationship between these alternate forms of conduct and product class structure and performance. The results support the view that advertising is a barrier to entry rather than information that would facilitate entry. The extent of government-imposed identity standards within a product class is inversely related to advertising intensity and the rate of new product introduction but may artificially fill the product space, making entry more difficult.

Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:71:y:1989:i:1:p:105-115.

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