Journal Article

The Effects of Imperfect Competition on the Size and Distribution of Research Benefits

Julian M. Alston, Richard J. Sexton and Mingxia Zhang

in American Journal of Agricultural Economics

Published on behalf of Agricultural and Applied Economics Association

Volume 79, issue 4, pages 1252-1265
Published in print November 1997 | ISSN: 0002-9092
Published online November 1997 | e-ISSN: 1467-8276 | DOI: http://dx.doi.org/10.2307/1244282
The Effects of Imperfect Competition on the Size and Distribution of Research Benefits

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Studies of agricultural research benefits usually assume perfectly competitive markets. Studies that have allowed for market power of agribusiness firms have generally assumed unrealistic pure monopsony or monopoly behavior. This paper allows for processing firms to exhibit a range of degrees of oligopsony power in buying raw farm products and oligopoly power in selling processed farm products. The results indicate that different types of research-induced technical change can exacerbate or ameliorate distortions from the exercise of market power by agribusiness firms, which affects the size and especially the distribution of research benefits.

Keywords: imperfect competition; oligopoly; oligopsony; research benefits; L130; Q120; Q160

Journal Article.  0 words. 

Subjects: Agricultural Economics ; Market Structure, Firm Strategy, and Market Performance

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