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Estimating the Degree of Market Power in the Beef Packing Industry

John R. Schroeter
The Review of Economics and Statistics
Vol. 70, No. 1 (Feb., 1988), pp. 158-162
Published by: MIT Press
DOI: 10.2307/1928165
Stable URL: http://www.jstor.org/stable/1928165
Page Count: 5
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Estimating the Degree of Market Power in the Beef Packing Industry
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Abstract

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 distortions in slaughter cattle and wholesale beef markets but, in spite of a recent trend toward heightened concentration in the industry, give no indication that performance has become appreciably less competitive of late.

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