Over the past fifteen years, the agricultural biotechnology industry has exhibited cyclical behavior in concentration and consolidation. This paper provides a theoretical model of endogenous R&D, in which industry concentration exhibits cyclical behavior. The model also generates additional...

In 1998, Thorn Apple Valley ceased slaughter operations at its Detroit, Michigan plant, the state's only major hog packing facility. We examine the plant closing's local impact via an investigation of whether prices received by Michigan hog producers decreased relative to hog prices in the...

Today is a time of dynamic structural change in the agri-food system that brings new challenges to producers. This change is not unique to any particular production sector within the system, nor is it restricted to one level within the agri-food marketing chain. This testimony describes the...

This study seeks to understand whether beef operators who specialize in cow-calf production exhibit different motives for alliance participation and different levels of satisfaction with these vertical marketing arrangements than their counterparts in cow-calf production who also operate...

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...

Monopsony power by cigarette manufacturers in procuring domestic and imported tobacco is investigated using a nonparametric method previously developed by Love and Shumway. Their test is extended to assess monopsony market power in multiple input markets. Results indicate that cigarette...

An important characteristic of agricultural commodity markets is the extent to which those markets respond to price changes in related markets. Given a competitive market structure, the Law of One Price (LOP) postulates that spatial price relationships are determined by transfer cost1 among...

Counter-seasonal imports of fresh produce facilitate year-round availability in the U.S. and may impact the seasonal structure of market price relationships. Vector autoregression analysis is used to determine the nature and extent of spatial price relationships among four geographically...

Several characteristics of biotech industry structure follow cyclical patterns. Mergers and acquisitions activity shows cyclical behavior, with peaks from 1988-92 and 1996-97 and a valley from 1993-95. The ratio of large-firm to small-firm field trials, and the Herfindahl-Hirshmann concentration...