The paper uses a nonparametric approach (the SIR-CIR algorithm) to assess if US wheat millers are able to extract a rent from the deficiency payment program. Our analysis concluded that millers exerted market power and they extraxted a rent that was approximately the 10% of wheat price, by artificially reducing farmgate prices.
Modeling Processor Market Power and the Incidence of Agricultural Policy: a Nonparametric Approach
RUSSO, Carlo
2012-01-01
Abstract
The paper uses a nonparametric approach (the SIR-CIR algorithm) to assess if US wheat millers are able to extract a rent from the deficiency payment program. Our analysis concluded that millers exerted market power and they extraxted a rent that was approximately the 10% of wheat price, by artificially reducing farmgate prices.File in questo prodotto:
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