Market and Cost Structure in the U.S. Beef Packing Industry: A Plant‐Level Analysis
利用美国牛肉加工厂的工厂级成本与收入数据，估计一个包含牛投入和牛肉产出市场定价行为的成本模型，发现市场力量利用很少，成本效率抵消了市场力量证据。
Abstract A resurgence of consolidation in the U.S. meat packing industry in the past few decades has stimulated academic and policy debate. Issues raised include the role of cost economies in driving these patterns, and the effects on the agricultural sector (cattle producers) from market power. Here, plant level cost and revenue data for U.S. beef packing plants are used to estimate a cost‐based model incorporating cattle‐ and output‐market pricing behavior. The robust results indicate little market power exploitation in either the cattle input or beef output markets, and that any apparent evidence is counteracted by cost efficiencies such as utilization and scope economies.