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New Empirical Industrial Organization and the Food System

Harry M. Kaiser and Nobuhiro Suzuki

The new empirical industrial organization (NEIO) is a pioneering framework developed by economists to measure the degree of competitiveness of economic sectors. The primary contribution of NEIO is the generalization of perfect-competition and monopoly models to intermediate imperfect-competition models that can be empirically estimated. This framework has been applied to many sectors to provide policymakers dealing with antitrust issues with empirical evidence of market power throughout the marketing channel. This is the first book to provide a detailed, systematic overview of NEIO. The authors present a comprehensive synopsis of the theory and application of NEIO as well as selected case studies to the food sector.
Contents: N. Suzuki/H.M. Kaiser: New Empirical Industrial Organization Theories and Their Application to Food System Analyses – N. Suzuki/ H.M. Kaiser/J.E. Lenz/O.D. Forker: An Analysis of U.S. Dairy Policy Deregulation Using an Imperfect-Competition Model – N. Suzuki/H.M. Kaiser/J.E. Lenz/K. Kobayashi/O.D. Forker: Evaluating Generic Milk Promotion Effectiveness with an Imperfect-Competition Model – D.J. Liu/C-H. Sun/H.M. Kaiser: Market Conduct under Government Price Intervention in the U.S. Dairy Industry – S. Bhuyan/R.A. Lopez: Oligopoly Power and Allocative Efficiency in U.S. Food and Tobacco Industries – A.M. Azzam/E.Pagoulatos: Testing Oligopolistic and Oligopsonistic Behavior: An Application to the U.S. Meat-Packing Industry – R.J. Sexton/M. Zhang: An Assessment of the Impact of Food-Industry Market Power on U.S. Consumers – J.R. Schroeter/A.M. Azzam/M. Zhang: Measuring Market Power in Bilateral Oligopoly: The Wholesale Market for Beef – T. Kawaguchi/N. Suzuki/H.M. Kaiser: A Spatial-Equilibrium Model for Imperfectly Competitive Milk Markets – L.S. Karp/J.M. Perloff: A Dynamic Model of Oligopoly in the Coffee Export Market – J. Kinoshita/N. Suzuki/H.M. Kaiser: Explaining Pricing Conduct in a Product-Differentiated Oligopolistic Market: An Empirical Application of a Price Conjectural-Variations Model – R.W. Cotterill/W.P. Putsis, Jr.: Market Share and Price-Setting Behavior for Private Labels and National Brands – A.L. Tiffin/P.J. Dawson: Measuring Oligopolistic Distortion in the U.K. Frozen-Potato-Product Sector: A Calibration Modeling Approach – H.M. Kaiser/N.Suzuki: New Empirical Industrial Organization and the Food System: Summary.