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The Conduct of the World Soybean Processing Industry

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  • Yamazaki, Fumiko
  • Paarlberg, Philip L.
  • Thursby, Marie

Abstract

This paper examines the competitiveness of the soybean processing industry. A model of multinational firms with scale economies is specified. An index of the way in which firms compete (conjectural variations) is included and the model is calibrated to market data to estimate the competitiveness of the industry. The results imply that despite its oligopolistic structure, the soybean processing sector may be fairly price competitive. This result is shown to be robust to changes in elasticities of demand in meal and oil, the soybean supply elasticity, and the number of multinational firms. However, it is sensitive to changes in the processing profit margin.

Suggested Citation

  • Yamazaki, Fumiko & Paarlberg, Philip L. & Thursby, Marie, 1992. "The Conduct of the World Soybean Processing Industry," Occasional Papers 233092, Regional Research Project NC-194: Organization and Performance of World Food Systems.
    • Handle: RePEc:ags:nc194o:233092
    DOI: 10.22004/ag.econ.233092
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    References listed on IDEAS

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    1. Roger J. Vandenborre, 1966. "Demand Analysis of the Markets for Soybean Oil and Soybean Meal," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 48(4_Part_I), pages 920-934.
    2. Gary W. Williams & Robert L. Thompson, 1984. "Brazilian Soybean Policy: The International Effects of Intervention," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(4), pages 488-498.
    3. J. David Richardson, 1989. "Empirical Research on Trade Liberalization With Imperfect Competition: A Survey," NBER Working Papers 2883, National Bureau of Economic Research, Inc.
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