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A characterization of the food industries

Holloway, G. (1995) A characterization of the food industries. American Journal of Agricultural Economics, 77 (5). p. 1367. ISSN 0002-9092

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To link to this item DOI: 10.1093/ajae/77.5.1358

Abstract/Summary

Consistent conjectures applied to the food industries are investigated. This is a homogeneous-product, quantity-setting model with identical firms. When firm numbers are fixed, the consistent conjecture is monopolistic. When variable, consistency requires firm output to expand with exit and contract with entry, but no conjecture exists that is consistent with equilibrium.

Item Type:Article
Refereed:Yes
Divisions:Faculty of Life Sciences > School of Agriculture, Policy and Development > Economic and Social Sciences Division > Food Economics and Marketing (FEM)
ID Code:30682
Publisher:Oxford University Press

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