The services of residential real estate brokers are normally priced at a fixed percentage of the selling price of the house. Since the direct cost of selling a house is virtually unrelated to house value, this custom is an example of value-of-service pricing-a practice often regarded as prima...

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This paper provides a conceptual and empirical framework for analyzing marketing margins in a noncompetitive food-processing industry facing output price uncertainty. The framework allows the decomposition of observed margins into components reflecting the marginal cost of the processing...

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In this paper we model the tradeoff between regional oligopsony power and cost efficiency resulting from consolidation in a food processing industry. The model can be used to calculate the cost reductions necessary to offset the anticompetitive effects of market power and to compare them to...

Several empirical analyses of data from fed cattle markets have found a negative correlation between a region's weekly delivery volume of captive supply cattle and contemporaneous price in the local cash market. This negative correlation has been cited as evidence of a causal relationship...

A technique for assessing the degree of monopoly power, developed by Appelbaum (1979, 1982), is extended here to permit measurement of monopsony power as well. Data from the U.S. beef packing industry are examined. The results reveal small, but statistically significant monopoly/monopsony price...

Numerous papers in the agricultural economics literature investigate the empirical relationship between the spot market price of fed cattle and the volume of packers' pre-committed, or "captive," supplies of cattle. In this paper, we use an extensive data set on the cattle procurement activities...

Recent game-theoretic studies of the effects of the business cycle on oligopoly coordination predict that coordination is weakest when demand is high and expected future profit is lower. An empirical model that uses a conjectural elasticity term to measure the degree of coordination is developed...

This article presents a model of taxi service in a regulated market where radio dispatch and airport cabstand are the primary modes of operation. Regulators have the potential to affect market performance through two means: changes in the number of licensed cabs and changes in drivers' mode...