DISTINGUISHING THE SOURCE OF MARKET POWER: AN APPLICATION TO CIGARETTE MANUFACTURING
H. Love and
C. Shumway ()
No 24021, Faculty Paper Series from Texas A&M University, Department of Agricultural Economics
We compare nonparametric and nonstructural market power tests using data from the cigarette manufacturing industry. Tests are implemented to examine both monopoly and monopsony power exertion by cigarette manufacturers. Results indicate that market power in the tobacco industry, previously attributed to monopoly power exertion, should at least in part be attributed to monopsony market power in the upstream tobacco market.
Keywords: Agribusiness (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:tamufp:24021
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