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European Review of Agriculture Economics Vol 29 (3) (2002) pp.349-371
© 2002 Oxford University Press and the Foundation for the European Review of Agricultural Economics

Why should imperfect competition matter to agricultural economists?

Steve McCorriston

University of Exeter, Exeter, UK

Corresponding author: Steve McCorriston, School of Economics and Business, University of Exeter, Exeter EX4 4PU, UK. E-mail: S.McCorriston{at}exeter.ac.uk

Summary

In this paper it is argued that imperfect competition should be given more attention by agricultural economists as the characteristics of food markets in Europe (and elsewhere) suggest that these markets are more typically oligopolistic. Particularly important in this regard is the growing market power of food retailers in many European countries. The analysis of imperfect competition should not be confined to those solely interested in competition policy issues but should also be the concern of economists who undertake applied policy analysis more generally.

Keywords: European food sector, imperfect competition, policy analysis


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