Marketing Margins, Market Power, and Price Uncertainty
构建了一个分析非竞争性食品加工业营销价差的理论与实证框架，将价差分解为边际成本、寡头/寡买价格扭曲和产出价格风险三部分，并应用于美国猪肉批发与农场价差的时间序列数据。
Abstract 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 industry, oligopoly/oligopsony price distortions, and an output price risk component. The empirical procedure is applied to a time series of spreads between wholesale pork prices and farm prices of market hogs. The principal finding is that, while farm/wholesale margins are more consistent with competitive performance now than they were fifteen years ago, the output price risk component persisted throughout the sample period.