Journal
REVIEW OF INDUSTRIAL ORGANIZATION
Volume 20, Issue 2, Pages 115-126Publisher
KLUWER ACADEMIC PUBL
DOI: 10.1023/A:1013867114881
Keywords
economies of scale; food processing; industrial concentration; industrial organization; oligopoly power
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This article separates oligopoly-power and cost-efficiency effects of changes in industrial concentration and assesses their impact on output prices in 32 food-processing industries. Empirical results indicate that although concentration induces cost efficiency in one-third of the industries, oligopoly-power effects either dominate cost efficiency or reinforce inefficiency, resulting in higher output prices in most industries. The article also provides fresh econometric estimates of oligopoly power and economies of size for the industries in question.
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