Modeling the Effects of Restricting Packer‐Owned Livestock in the U.S. Swine Industry
构建了一个加工商不完全竞争模型，评估限制加工商自有牲畜采购对福利的影响，发现独立生产者、消费者和加工商都会受损。
Abstract An imperfectly competitive model of processor (packer) behavior is formulated to estimate welfare effects from restricting alternative marketing arrangements of livestock procured by packers. Pork was aggregated into a composite good and hog supply was partitioned into negotiated (spot), contract, and packer‐owned. The model was estimated with the dynamic SUR method using weekly Mandatory Price Reporting (MPR) hog and pork data from 2001 to 2005. The model incorporates production uncertainty by modeling expected pork output as expected output in the input demand functions. The welfare effects from banning packer‐owned hogs indicate that independent producers, consumers, and packers all would lose.