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Market Power and Its Sources in the Food Industry

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  • G. E. Brandow

Abstract

Market power is defined in terms of a firm's ability to affect directly other participants in the market or such market variables as prices and promotion practices. The article distinguishes between short-run and long-run power and between offensive and defensive power. More than a dozen sources of power are identified in the food industry. Some of the things commonly regarded as manifestations of market power are unreliable indicators of it. In particular, higher-than-average profits and market power do not necessarily go together.

Suggested Citation

  • G. E. Brandow, 1969. "Market Power and Its Sources in the Food Industry," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 51(1), pages 1-12.
    • Handle: RePEc:oup:ajagec:v:51:y:1969:i:1:p:1-12.
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    File URL: http://hdl.handle.net/10.2307/1238302
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    Cited by:

    1. Folwell, Raymond J. & Mittelhammer, Ronald C. & Wang, Q., 1998. "An Empirical Bargaining Model Of Price Discovery: An Application To The Washington/Oregon Asparagus Industry," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 1(4), pages 1-13.
    2. Jan Schiefer & Monika Hartmann, 2008. "Determinants of competitive advantage for German food processors," Agribusiness, John Wiley & Sons, Ltd., vol. 24(3), pages 306-319.
    3. Bronnenberg, Bart, 2018. "Innovation and Distribution: A General Equilibrium Model of Manufacturing and Retailing," CEPR Discussion Papers 13058, C.E.P.R. Discussion Papers.
    4. Zhu, Xuehong & Zheng, Weihang & Zhang, Hongwei & Guo, Yaoqi, 2019. "Time-varying international market power for the Chinese iron ore markets," Resources Policy, Elsevier, vol. 64(C).

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