Premium
A Conjectural Variations Model of Reduced Japanese Milk Price Supports
Author(s) -
Suzuki Nobuhiro,
Lenz John E.,
Forker Olan D.
Publication year - 1993
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1242969
Subject(s) - economics , perfect competition , microeconomics , econometrics
Conjectural variations are estimated to determine the degree of imperfection in the Japanese milk market. Estimated conjectural variations indicate that the Japanese milk market is imperfectly competitive but is becoming more competitive. Our comparative static analysis indicates that when the milk support price is reduced, the fluid milk price will decline less under the current imperfectly competitive structure than it would under a competitive structure.