Market power in economic theory is defined as deviations from marginal cost pricing, which results in unfair competition and welfare losses. In complex agri-food supply chains, the exercise of market power is a significant contributor to welfare losses, as multiple actors throughout the chain...

Market power in economic theory is defined as deviations from marginal cost pricing, which results in unfair competition and welfare losses. In complex agri-food supply chains, the exercise of market power is a significant contributor to welfare losses, as multiple actors throughout the chain...

This paper investigates the properties of tests for asymmetric long-run adjustment which are often applied in empirical studies on asymmetric price transmissions. We show that substantial size distortions are caused by preconditioning the test on finding sufficient evidence for cointegration in...

This paper investigates the properties of tests for asymmetric long-run adjustment which are often applied in empirical studies on asymmetric price transmissions. We show that substantial size distortions are caused by preconditioning the test on finding sufficient evidence for cointegration in...