Oligopoly and Price Transmission in Turkey's Fluid Milk Market

Tekgüç, Hasan

doi:10.1002/agr.21333

Cited by 10 publications

(9 citation statements)

References 14 publications

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“…Several recent agricultural commodity price transmission and market integration studies have focused on price relationships among markets for which trade regularly occurs (see the methodological development and worldwide empirical evidence of agricultural commodity price transmission in Brosig et al (2011), Abbassi et al (2012), Tekgüç (2013), Acosta et al (2014), Santeramo (2015), Cacchiarelli et al (2016), Tifaoui and Von Cramon‐Taubadel (2017), and Yu and Gould (2019)). Most of these studies have a similar underlying theoretical competitive spatial equilibrium framework, which is described thoroughly by Lence et al (2018).…”

Section: Literature Review: Price Transmission With Growing Conditions Variation and Sparse Market Informationmentioning

confidence: 99%

Price transmission with sparse market information: The case of United States chickpeas

Hatzenbuehler

Painter

2020

Agribusiness

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In this paper, supply‐related and price data for several chickpea importing regions and supply‐related data for export competitor countries were encompassed into price transmission models to determine whether such factors are helpful for explaining the United States chickpea price variation. Specifically, the models included satellite‐based normalized difference vegetation index, a measure of growing conditions, and area planted estimates for importing regions of the Indian subcontinent and the Mediterranean, and area planted estimates for exporting competitors, Australia and Canada. Results show that inclusion of supply‐related information improved goodness of fit statistics in all models relative to base models that only include prices, providing evidence that such information is important for explaining United States chickpea price changes. The models with the highest goodness of fit statistics were those that accounted for (1) deteriorating growing conditions in the Mediterranean region coinciding with declining area planted in Canada and (2) concurrently deteriorating growing conditions and declining area planted in the Indian subcontinent. [EconLit citations: Q11, Q17]

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Section: Literature Review: Price Transmission With Growing Conditions Variation and Sparse Market Informationmentioning

confidence: 99%

Price transmission with sparse market information: The case of United States chickpeas

Hatzenbuehler

Painter

2020

Agribusiness

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“…Milk is considered as a strategically important commodity in Turkey (Günden, Bilgic, Miran & Karli 2011). Due to economies of scale in this growing market, Turkish dairy processing firms continue to be profitable (Tekgüç, 2013). According to State Institute of Statistics, in 2017 total raw milk production almost exceeds 20 million tons (TÜİK, 2018a) and İzmir province takes the second place in Turkey with nearly 1 million ton production (TÜİK, 2018b).…”

Section: Literature Reviewmentioning

confidence: 99%

Consumer Perceptions towards Dairy Products: Effects of Mass Media

Atabek

2019

Online Journal of Communication and Media Technologies

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Using the information from mass media, consumers develop their perceptions towards dairy products. This article examines how these perceptions are developed. Based on a mixed design, our research has three consecutive data collection phases. The first phase is a quantitative content analysis of four major Turkish newspapers, three popular Turkish television health shows and Turkish internet content on dairy products. Second phase is designed to collect qualitative data from three focus groups in order to reveal what kinds of perceptions are developed about milk, cheese and yogurt and how the consumers verbally express them. Findings from these two phases are used to develop a questionnaire, which is applied to a sample of 733 urban consumers, for the quantitative measurement of these perceptions. Findings reveal that mass media disseminates huge amount of information to which consumers are exposed. Consumers admit that their decisions were usually affected by such information. Survey results showed that dairy consumers tend to trust more in the positive claims than the negative ones. Consumers mostly develop perceptions regardless of their socio-demographic differences due to the mainstreaming effect of mass media. However, a cluster analysis showed that younger, more educated, wealthier and regular diary consumers have lower levels of negative perceptions about milk, cheese and yogurt. On the other hand, consumers with more trust in media and readiness to share media information have higher levels of positive perceptions about milk and yogurt.

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“…The Threshold Autoregressive (TAR) model was first discussed by Tong () and later revisited by Enders and Granger (), who introduced a model variation, the Momentum‐TAR (M‐TAR), increasing the model's popularity since then (for recent research in agricultural economics applying a TAR framework, see Abdulai, ; Awokuse & Wang, ; Goychuk & Meyers, ; Han , Chung, & Surathkal, ; Lee & Gómez, ; Simioni et al., ; Surathkal, Chung, & Sungill, ; Tekgüç, , among others). Engle and Granger () showed that when two variables are cointegrated, an Error Correction Model (ECM) can be specified as

0true normalΔ p_{1 t} = Φ_{j} ((), p_{2, t - 1} - β_{0} - β_{1} p_{2, t - 1}) + \sum_{i = 1}^{k - 1} Γ_{i} normalΔ p_{1, t - i} + \sum_{i = 1}^{k - 1} δ_{i} normalΔ p_{2, t - i} + ε_{t},

where

p_{i, t}, i = 1, 2

are prices at two different levels of the supply chain, β 0 is a constant term, the term inside the brackets specifies the error correction mechanism (i.e., ECT),

Γ_{i}

and

δ_{i}

are matrices of short‐run parameters estimating the effect of shocks on

Δ p_{i, t},

and

ε_{t}

is a disturbance term

i . i . d . \sim WN (0, σ^{2})

.…”

Section: Modeling Asymmetric Price Transmissionmentioning

confidence: 99%

“…(); Busse, Brümmer, and Ihle (); Conforti (); Goychuk and Meyers (); Hassouneh, Serra, Bojnec, and Gil (); Listorti and Esposti (); Simioni et al. (); Tekgüç (); and Verreth et al. ().…”

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confidence: 99%

Price transmission dynamics for quality‐certified food products: A comparison between conventional and organic fluid milk in Italy

et al. 2018

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Despite the vast number of works investigating price transmission (PT) processes in diverse agrifood markets, very little has been said about quality-differentiated products. In this paper, we compare the conventional and organic fluid milk sectors in Italy to better understand the economic organization and functioning of one of the most important agrifoods in Italy. Using a unique dataset featuring processor and retail (scanner) prices for the two types of milk, we estimate Momentum-Threshold Autoregressive models to account for asymmetric price movements in both sectors, but the PT results are eventually symmetric. The Vector Error Correction Model estimations and Impulse Response Functions analysis provide significant insights into the differences between the two markets. [EconLit citations: Q130, Q110, C590]

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Oligopoly and Price Transmission in Turkey's Fluid Milk Market

Cited by 10 publications

References 14 publications

Price transmission with sparse market information: The case of United States chickpeas

Price transmission with sparse market information: The case of United States chickpeas

Consumer Perceptions towards Dairy Products: Effects of Mass Media

Price transmission dynamics for quality‐certified food products: A comparison between conventional and organic fluid milk in Italy

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