Parametric and nonparametric market power tests most commonly used to assess imperfectly competitive behavior are identified. Monte Carlo experiments are used to assess the accuracy of eight nonparametric tests. The results are compared to Raper, Love, and Shumway's (1997) findings concerning...

We use Monte Carlo experiments to assess the accuracy of two nonstructural and two statistical nonparametric market power tests. We implement these monopoly and monopsony market power tests using data from ten known market structures. The objective is to determine which test is most able to...

Traceability is becoming a condition for doing business in European food markets. Retailers are adopting standards that are more stringent than what is mandatory. An example is EurepGAP, a quality standard for good agricultural practices that includes traceability as a main requirement. We...

Health risks associated with seafood products prompted the introduction of mandatory HACCP in the seafood industry in the United States in 1997. This paper quantifies the trade impact of this introduction by analyzing patterns of seafood imports to the U.S. over the period 1990 to 2004. The...

The consumption of multi-ingredient foods is increasing across the globe as consumers spend less time preparing meals. Traceability is now extensively used to reduce information imperfections in food markets and recent EU law suggests it will be implemented for manufactured meals as well. We...

A review of recent literature reflects the development of several deterministic nonparametric market power tests. We use Monte Carlo experiments to evaluate the veracity of four monopolistic and four monopsonistic market power tests that use the deterministic nonparametric approach. The...