5,185 research outputs found

    Price Transmission, Market Power and Returns to Scale

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    In this paper, we aim to model the vertical relation between retailers and suppliers in the food industry whereby retailers exercise seller power in their relation with consumers and buyer power in their relation with producers. We then evaluate the degree of price transmission, relative to the perfectly competitive benchmark, from the farm to the retail sector assuming a supply shock. With the view to evaluating the impact of market power's interaction with industry technology on the degree of price transmission, we assume industry technology to be characterised by variable input proportions and non-constant returns to scale. Our model predicts that, relative to that which obtains when markets are perfectly competitive and industry technology is characterised by constant returns to scale, the degree of price transmission when market power and industry technology interact cannot be unambiguously determined.price transmission, returns to scale, market power, Demand and Price Analysis, Marketing, L11, Q13,

    Spectral Energy Distributions for Disk and Halo M--Dwarfs

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    We have obtained infrared (1 to 2.5 micron) spectroscopy for 42 halo and disk dwarfs with spectral type M1 to M6.5. These data are compared to synthetic spectra generated by the latest model atmospheres of Allard & Hauschildt. Photospheric parameters metallicity, effective temperature and radius are determined for the sample. We find good agreement between observation and theory except for known problems due to incomplete molecular data for metal hydrides and water. The metal-poor M subdwarfs are well matched by the models as oxide opacity sources are less important in this case. The derived effective temperatures for the sample range from 3600K to 2600K; at these temperatures grain formation and extinction are not significant in the photosphere. The derived metallicities range from solar to one-tenth solar. The radii and effective temperatures derived agree well with recent models of low mass stars.Comment: 24 pages including 13 figures, 4 Tables; accepted by Ap
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