The purpose of the research in this paper was to test for upstream and downstream market power in the US hard wheat milling industry. This is an industry with very high and increasing levels of processing concentration, and one of the industry's largest firms (Archer Daniels Midland) was...

Which of two distributions, the diffusion-jump process or the generalized beta-2 distribution, is superior in approximating the actual distribution of futures prices? The parameters of the distributions were estimated using the futures prices of four highly diverse commodities: British pound,...

Standard microeconomic theory has long recognized firm-level substitution and output effects in explaining aggregate responses to taxation of an input such as nitrogen fertilizer. However, in the presence of managerial heterogeneity, a nitrogen tax will also affect the composition of the...

In the literature, mixed results have been obtained from the studies that have examined the market power of dairy cooperatives and processors. As the main objective of the present work, we intend to find further empirical evidence to investigate whether the dairy cooperatives’ oligopoly power...