The relevant geographic market area for fed cattle and the changing structure of the beef packing industry

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1988
Authors
Schultz, Margaret
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Marvin L. Hayenga
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Economics

The Department of Economic Science was founded in 1898 to teach economic theory as a truth of industrial life, and was very much concerned with applying economics to business and industry, particularly agriculture. Between 1910 and 1967 it showed the growing influence of other social studies, such as sociology, history, and political science. Today it encompasses the majors of Agricultural Business (preparing for agricultural finance and management), Business Economics, and Economics (for advanced studies in business or economics or for careers in financing, management, insurance, etc).

History
The Department of Economic Science was founded in 1898 under the Division of Industrial Science (later College of Liberal Arts and Sciences); it became co-directed by the Division of Agriculture in 1919. In 1910 it became the Department of Economics and Political Science. In 1913 it became the Department of Applied Economics and Social Science; in 1924 it became the Department of Economics, History, and Sociology; in 1931 it became the Department of Economics and Sociology. In 1967 it became the Department of Economics, and in 2007 it became co-directed by the Colleges of Agriculture and Life Sciences, Liberal Arts and Sciences, and Business.

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1898–present

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  • Department of Economic Science (1898–1910)
  • Department of Economics and Political Science (1910-1913)
  • Department of Applied Economics and Social Science (1913–1924)
  • Department of Economics, History and Sociology (1924–1931)
  • Department of Economics and Sociology (1931–1967)

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Abstract

The structure of the beef industry has changed dramatically in this century. This phenomenon has given rise to much controversy concerning the competitiveness of the industry in both the economics literature and the courts;One of the key issues in industry organization and antitrust issues is the definition of product and geographic markets. This dissertation attempts three statistical procedures to define markets, each with increasing demands for market information. A fourth procedure is also outlined;Finally, a study of the beef packing industry is conducted within the structure-conduct-performance paradigm, given previously defined product and geographic markets. It was concluded that, although there is presently no evidence of undue monopoly power, the industry may be able to exploit their sizeable market share if they if certain technologies are forthcoming. For example, if beef packers begin to develop branded products for retail, they may be able to influence price at the retail level.

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Fri Jan 01 00:00:00 UTC 1988