Measuring Market Power and Cost‐efficiency Effects of Industrial Concentration
扩展了Appelbaum的框架，将产业集中度纳入模型，分离其市场势力效应与成本效率效应，并用美国牛肉包装行业数据验证，发现成本效率效应超过市场势力效应。
In this paper I show how Appelbaum's framework for testing price‐taking behavior in a single industry can be formally extended to consider concentration explicitly. In so doing, I separate the market power effect of concentration from its cost‐efficiency effect. Data from the US beef‐packing industry are used to illustrate an empirical application of the model. The findings support oligopsonistic market power and slaughter‐cost efficiency in the industry. However, the cost‐efficiency effect outweighs the market‐power effect.