This paper proposes a new framework to include the interaction of vertically differentiated goods, which was largely ignored in previous studies, to analyze the market power of exporters and importers in world markets of agricultural commodities. The framework is applied in an empirical study of...

Through analyzing the effect of a demand characteristic, this paper investigates the reasons for the market phenomenon that farm and/or wholesale price changes are transmitted asymmetrically to retail markets.

Replaced with revised version of poster 07/21/11.