Stochastic Frontier Estimation of Market Power in the Food Industries
使用改进的随机前沿模型估计美国食品加工业的寡头垄断加价，发现勒纳指数平均约21%，且加价随产业集中度上升、随价格弹性和进口增加而下降。
Abstract We use a modified version of the stochastic frontier model to estimate oligopoly markups above the perfectly competitive frontier, separating out deterministic markups from purely stochastic markups. Using data from 42 US food processing industries between 1990 and 2010, empirical results indicate a widespread incidence of oligopoly power, with Lerner indexes averaging approximately 21%. Further, the estimated markups increase with industrial concentration but decrease with price elasticities and imports. Finally, the estimated Lerner indexes are in the range of previous food industry estimates using New Empirical Industrial Organization ( NEIO ) models.