Dynamic Assessment of Oligopoly, Oligopsony Power, and Cost Efficiency using the New Empirical Industrial Organization in the U.S. Beef Packing Industry

In this paper, the new empirical industrial organization approach with a dynamic model is simultaneously employed to measure the degree of oligopoly, oligopsony power, and cost efficiency in the U.S. beef packing industry. The oligopsony power is estimated with two effects: cash cattle procurement market power and captive supply market power. The model is estimated by the Generalized Method of Moments using monthly data from 1990 to 2006. The empirical results reveal the presence of market power in both the beef retail market and the cattle procurement market in the sample period. The captive supply is a source of oligopsony market power, but the effect is considerably small. The oligopsony market power is greater and less stable than oligopoly market power for the whole sample period. The cost efficiency effect outweighs the market power effects for the sample period.beef packing industry, captive supply, cost efficiency, industrial concentration, market power, NEIO, Agricultural and Food Policy, Industrial Organization, Livestock Production/Industries, Marketing, Q13,

Dynamic Assessment of Bertrand Oligopsony in the U.S. Cattle Procurement Market

The new empirical industrial organization approach with the Bertrand model is employed to measure the oligopsony market power in the U.S. cattle procurement market. The assumption of price competition (Bertrand model) based on the nature of cattle production such as cattle cycle and seasonality is used and compared to quantity competition (Cournot model). The empirical results show that the oligopsony market power exists in the U.S. cattle procurement market. The cattle cycle and seasonality affect the oligopsony market power and the cattle cycle causes the change of market power. However, concentration has a negative effect on the oligopsony market power.cattle cycle, concentration, market power, NEIO, oligopsony, seasonality, Agribusiness, Demand and Price Analysis, Industrial Organization, Livestock Production/Industries, Marketing, Q13, L13, L16,

The transition to export-led growth in South Korea : 1954-1966

In analyzing the turning point in Korea's transition in the early 1960s from a strategy of import substitution to one of export-oriented industrial growth, the authors examine not just the economics of change but the politics of economic policy and reform - the incentives facing state and business elites and the institutional context in which they operated. Their analysis shows that the transition to export-led growth in South Korea was a product of the interplay of four factors: pressure from the United States; the dominance of the executive branch; institutional reform within the bureaucracy; and a restructuring of relations between the state and business. Conclusions are drawn about the role of outside pressure in policy reform, about the importance to reform administrative capability and organization, and about the politics of policy change.ICT Policy and Strategies,Legal Products,Health Monitoring&Evaluation,National Governance,Environmental Economics&Policies

Exact solution of a quantum forced time-dependent harmonic oscillator

The Schrodinger equation is used to exactly evaluate the propagator, wave function, energy expectation values, uncertainty values, and coherent state for a harmonic oscillator with a time dependent frequency and an external driving time dependent force. These quantities represent the solution of the classical equation of motion for the time dependent harmonic oscillator

The studies on melting of a hydrous basalt under high pressure conditions

Thesis (Ph. D. in Science)--University of Tsukuba, (A), no. 1867, 1998.3.2

RESIDUAL STRENGTH OF STRUCTURAL STEELS: SN400, SM520 AND SM570

This paper presents post-fire mechanical properties of mild to high-strength steels commonly used in building structures in Korea. Steel is one of the main materials for building construction due to fast construction, light weight, and high seismic resistance. However, steel usually loses its strength and stiffness at elevated temperatures, especially over 600°C. But steel can regain some of its original mechanical properties after cooling down from the fire. Therefore, it is important to accurately evaluate the reliable performance of steel to reuse or repair the structures. For this reason, an experimental study was performed to examine the post-fire mechanical properties of steel plates SN400, SM520 and SM570 after cooling down from elevated temperatures up to 900°C. The post-fire stress-strain curves, elastic modulus, yield and ultimate strengths and residual factors were obtained and discussed