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The relationships between market structure and price-cost margins in US food manufacturing, 1954 to 1977

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  • Richard T. Rogers

    (Assistant Professor of Agricultural and Resource Economics at the University of Massachusetts, Amherst, Massachusetts)

Abstract

Market structure's influence on price-cost margins was explored in each census year over a 23-year period in food manufacturing. The positive relationship between price-cost margins and both four-firm concentration and product differentiation, as measured by a media advertising-to-sales ratio, became stronger over time. The reverse was true for the relationship between plant economies of scale and price-cost margins. The results indicate that in food manufacturing the influence of market concentration on profits does not disappear during inflationary periods as is often the case in studies of general manufacturing industries.

Suggested Citation

  • Richard T. Rogers, 1987. "The relationships between market structure and price-cost margins in US food manufacturing, 1954 to 1977," Agribusiness, John Wiley & Sons, Ltd., vol. 3(2), pages 241-252.
    • Handle: RePEc:wly:agribz:v:3:y:1987:i:2:p:241-252
    DOI: 10.1002/1520-6297(198722)3:2<241::AID-AGR2720030210>3.0.CO;2-I
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    References listed on IDEAS

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    1. Imel, Blake & Helmberger, Peter, 1971. "Estimation of Structure-Profit Relationships with Application to the Food Processing Sector," American Economic Review, American Economic Association, vol. 61(4), pages 614-627, September.
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    Cited by:

    1. Martha K. Field & Emilio Pagoulatos, 1997. "The Cyclical Behavior of Price Elasticity of Demand," Southern Economic Journal, John Wiley & Sons, vol. 64(1), pages 118-129, July.

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