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Econometric issues related to identification of the market power parameter

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Abstract:

This study demonstrates the crucial role the specification of the cost function plays in identifying the market power parameter in autarky models. For constant marginal cost or marginal cost with quantity interacting with input prices, the market power parameter in autarky models in identified without a rotation of the demand curve. If a comodity is sold in both domestic and foreign markets, the market power parameters are identified regardless of the specific form of the marginal cost and demand specifications.

Keywords: L11; L13; conjectural elasticities; identification; market power; trade

Document Type: Research Article

DOI: http://dx.doi.org/10.1080/00036846.2013.795277

Affiliations: 1: Agricultural Economics, University of Idaho, Moscow, ID 83844,–,2334, USA 2: School of Economics Sciences, Washington State University, Pullman, WA, USA

Publication date: November 1, 2013

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