By Catherine J Morrison
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Additional resources for Cost economies and market power in U.S. beef packing (Giannini Foundation monograph)
The cross-demand elasticities with other “variable inputs” are ipj = ln vi / ln p j. Input-specific “scale” (cost economy) effects are be computed as elasticities with respect to components of the Y vector; iYm = ln vi / ln Y m. Elasticities representing substitutability between the variable and r inputs (with reversed signs to the price elasticities since these are in terms of quantities), are iC = lnv i / ln C and iK = ln vi / ln K. Elasticities computed for the C shadow value expression identify changes in cattle demand, since if ZC = -∂G/∂C = Z C(Y,p,r,DUM) is larger, optimal C is greater: ZCYm = ln ZC/ ln Y m, ZCi = ln ZC/ ln p i , ZCK = ln ZC/ ln K.
Dev. 003 Min. Max. 032 56 Morrison Paul TABLE C4: ENERGY AND C SHADOW VALUE ELASTICITIES – CATEGORIES AND REGIONS Mean St. Dev. Min. 293 MB large ε EC ε EYF ε EYS ε EpL ε EpE ε EpMB ε EK Max. Mean St. Dev. Min. Max. 837 St. Dev. Min. Max. 138 Mean St. Dev. Min. 113 Max. 347 58 Morrison Paul TABLE C5: INPUT SUPPLY AND COST ECONOMY ELASTICITIES – CATEGORIES AND REGIONS Mean St. Dev. Min. Max. 000 Mean St. Dev. Min. Max. 008 Mean St. Dev. Min. Max. 021 MB =0 ε TCY,C ε TCY,YF ε TCY,YS ε TCY,pL ε TCY,pE ε TCY,pMB ε TCY,K REGION Mean St.
1982) New York: Harcourt Brace Jovanovich. Demsetz, Harold. “Industry Structure, Market Rivalry, and Public Policy”, Journal of Law and Economics. 16 (1973):1-9. M. G. E. Stefanou. ” American Journal of Agricultural Economics. (May 1992):329-342. Morrison, Catherine J. " Journal of Business and Economic Statistics. 3/4 (October 1985):312-324. Morrison, Catherine J. S. " The Review of Economics and Statistics. 70/2, (May 1988):275-287. Morrison, Catherine J. " The Review of Economics and Statistics.
Cost economies and market power in U.S. beef packing (Giannini Foundation monograph) by Catherine J Morrison