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Conduct In Spatial Markets: An Empirical Analysis Of Spatial Pricing Behavior

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  • Bruce L. Benson
  • Merle D. Faminow
  • Timothy J. Fik

Abstract

ABSTRACT An empirical procedure for differentiating between organized and competitive spatial oligopoly (or oligopsony) is proposed. The procedure evaluates pricing behavior using a time series of short‐term price data from spatially dispersed locations. Cooperation is implied when price changes at one location are matched instantly at others. Unidirectional price matching arises under price leadership. On the other hand, competitive spatial oligopoly involves lags and feedbacks, as well as stronger relationships between prices in contiguous marketing areas than between prices in spatially separated marketing areas. The procedure is applied in the context of a recent Competition Act case against Canadian meat packers.

Suggested Citation

  • Bruce L. Benson & Merle D. Faminow & Timothy J. Fik, 1992. "Conduct In Spatial Markets: An Empirical Analysis Of Spatial Pricing Behavior," Papers in Regional Science, Wiley Blackwell, vol. 71(1), pages 15-30, January.
    • Handle: RePEc:bla:presci:v:71:y:1992:i:1:p:15-30
    DOI: 10.1111/j.1435-5597.1992.tb01745.x
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    Cited by:

    1. Dieter Pennerstorfer, 2009. "Spatial price competition in retail gasoline markets: evidence from Austria," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 43(1), pages 133-158, March.
    2. Mutambatsere, Emelly & Mabaya, Edward T. & Christy, Ralph D., 2006. "Integration and Equilibrium of Maize Markets in Southern Africa: A SADC Sub-regional Assessment," Working Papers 127056, Cornell University, Department of Applied Economics and Management.
    3. Xiaoming Ning & Robert Haining, 2003. "Spatial Pricing in Interdependent Markets: A Case Study of Petrol Retailing in Sheffield," Environment and Planning A, , vol. 35(12), pages 2131-2159, December.

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