Market Structure, Trade Practice Regulation, and Competition Policy

Walter J. Armbruster ()
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Walter J. Armbruster: Farm Foundation, Emeritus

Chapter Chapter 4 in US Programs Affecting Food and Agricultural Marketing, 2013, pp 65-102 from Springer

Abstract: Abstract The dynamic food and agricultural markets continue to evolve, generally leading to larger farms and marketing firms with potentially more market power throughout the supply chain. As the structure of the industry has changed, the ways of doing business have moved further from the perfectively competitive norm to a much more interlinked production and marketing system integrated vertically and horizontally. The US food and agricultural sector has long been regulated or guided by policies and programs which proscribe or limit trade practices or market firm conduct. This chapter addresses to what extent the current US programs adequately regulate market activities or set a framework within which market participants operate in today’s global marketing system. It examines existing federal policies and programs to provide countervailing power to producers facing much larger marketing entities in their transactions beyond the farm gate. It also reviews trade practice regulations designed to provide a more fair system of exchange, and to proscribe certain conduct to enhance market performance. Some options for improving the effectiveness of these programs are identified and evaluated for their impacts on market efficiency. Finally, potential for greater public–private sector collaboration and needed additional research and education to foster improved market performance are briefly explored.

Keywords: Supply Chain; Market Power; Federal Trade Commission; Allocative Efficiency; Marketing System (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:nrmchp:978-1-4614-4930-0_4

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DOI: 10.1007/978-1-4614-4930-0_4

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