Economists have proposed several plausible explanations for observed price transmission asymmetries in commodity markets. Unfortunately, the econometric methods commonly used in such studies cannot empirically distinguish pricing behavior under the competing theories. We argue that the theories...

This paper introduces a new class of estimators based on minimization of the Cressie-Read (CR)power divergence measure for binary choice models, where neither a parameterized distribution nor a parameterization of the mean is specified explicitly in the statistical model. By incorporating sample...

One problem commonly encountered when analysing multiproduct-multifactor firms is the lack of activity-specific input data. The present study contributes to the empirical literature on production functions by presenting an information theoretic approach to estimating production functions in the...

This paper estimates the relationships between market structure and the Lerner index of monopoly constructed from price data on processed food products sold through grocery stores. A theoretical model of a differentiated oligopoly specifies two determinants of price-cost margins: the...

Five economic determinants of food expenditures by households in high-income industrialised countries are identified: three factors derived from neoclassical economics (population growth, income, and relative prices) and two factors given greater weight by business marketing analysts...