Huang, Rui; Perloff, Jeffrey - In: Review of Industrial Organization 44 (2014) 1, pp. 49-71
Under the U.S. Special Nutrition Program for Women, Infants, and Children (WIC) program, the three major infant formula manufacturers compete for WIC supply contracts, state by state. Policy makers have been puzzled by the question of why the contracted WIC price is substantially lower than the...