Captive Supplies, Market Conduct, and the Open‐Market Price
分析受控供应与公开市场价格之间负相关关系的成因，检验该关系是否源于非竞争行为，并指出现有实证文献缺乏足够结构细节来识别市场行为类型。
Abstract In this paper I examine the anatomy of the price captive‐supplies relationship to ascertain if some of the interpretations offered in the empirical literature are defensible. Gardner's one‐product, two‐input model is extended to consider a partially integrated oligopsonistic industry. The main result is that, although the empirical relationship between captive supplies and the price received by independent producers is negative, it may or may not be attributed to noncompetitive conduct. Hence, for an econometric model to detect what type of conduct the relationship reflects, more structural detail is needed than what so far has been provided in the literature.