511
Views
3
CrossRef citations to date
0
Altmetric
Original Articles

The market structure–performance relationship applied to the Canadian wine industry

References

  • Ashenfelter, O. and Jones, G. V. (2013) The demand for expert opinion: Bordeaux wine, Journal of Wine Economics, 8, 285–93. doi:10.1017/jwe.2013.22
  • Ashton, R. H. (2012) Reliability and consensus of experienced wine judges: expertise within and between?, Journal of Wine Economics, 7, 70–87. doi:10.1017/jwe.2012.6
  • Bain, J. S. (1951) The relation of profit rate to industry concentration: American manufacturing, Quarterly Journal of Economics, 65, 293–324.
  • Berger, A. N. (1995) The profit-structure relationship in banking-tests of market-power and efficient-structure hypotheses, Journal of Money, Credit and Banking, 27, 404–31.
  • Berger, A. N. and Hannan, T. H. (1989) The price-concentration relationship in banking, Review of Economics & Statistics, 71, 291–99.
  • Berger, A. N. and Hannan, T. H. (1997) Using efficiency measures to distinguish among alternative explanations of the structure-performance relationship in banking, Managerial Finance, 23, 6–31. doi:10.1108/eb018599
  • Berger, A. N. and Hannan, T. H. (1998) The efficiency cost of market power in the banking industry: a test of the quiet life and related hypotheses, The Review of Economics and Statistics, 80, 454–65. doi:10.1162/003465398557555
  • Boone, J. (2008a) A new way to measure competition, The Economic Journal, 118, 1245–61. doi:10.1111/ecoj.2008.118.issue-531
  • Boone, J. (2008b) Competition: theoretical parameterizations and empirical measures, Journal of Institutional and Theoretical Economics, 164, 587–611. doi:10.1628/093245608786534640
  • Cao, J. and Stokes, L. (2010) Evaluation of wine judge performance through three characteristics: bias, discrimination and variation, Journal of Wine Economics, 5, 132–42. doi:10.1017/S1931436100001413
  • Cardebat, J.-M. and Figuet, J.-M. (2004) What explains Bordeaux wine prices?, Applied Economics Letters, 11, 293–96. doi:10.1080/1350485042000221544
  • Cardebat, J.-M. and Figuet, J.-M. (2013) Expert opinions and Bordeaux wine prices: an attempt to correct the bias of subjective judgments, in AAWE Working Paper Series, 129, American Association of Wine Economists, New York University, New York.
  • Castriota, S. and Delmastro, M. (2008) Individual and collective reputation: lessons from the wine market, in AAWE Working Paper Series, 30, American Association of Wine Economists, New York University, New York.
  • Choi, B. P. and Weiss, M. A. (2005) An empirical investigation of market structure, efficiency, and performance in property-liability insurance, Journal of Risk and Insurance, 72, 635–73. doi:10.1111/j.1539-6975.2005.00142.x
  • Demsetz, H. (1973) Industry structure, market rivalry and public policy, Journal of Law and Economics, 16, 1–9.
  • Demsetz, H. (1974) Two systems of belief about monopoly, in Industrial Concentration: The New Learning, Goldschmid, H., Mann, H., and Weston, J. (Eds), Little, Brown, Boston, MA.
  • Dressler, M. and Kost, A. (2014) Winery reputation – do German guides provide orientation on wineries and is engagement and investment attractive for wineries?, Academy of Wine Business Research, 8th Conference, Geisenheim.
  • Edwards, S., Allen, A. J., and Shaik, S. (2006) Market structure conduct performance (SCP) hypothesis revisited using stochastic frontier efficiency analysis, American Agricultural Economics Association Annual Meeting, Long Beach, California, July 23–6.
  • Feuerstein, S. (2005) Collusion in industrial economics – a survey, Journal of Industry Competition and Trade, 5, 163–98. doi:10.1007/s10842-005-4868-5
  • Frech, H. E. and Mobley, L. R. (2000) Efficiency, growth, and concentration: an empirical analysis of hospital markets, Economic Inquiry, 38, 369–84. doi:10.1093/ei/38.3.369
  • Frick, B. and Simmons, R. (2013) The impact of individual and collective reputation on wine prices: empirical evidence from the Mosel valley, Journal of Business Economics, 83, 101–19. doi:10.1007/s11573-013-0652-x
  • Gale, B. T. and Branch, B. S. (1982) Concentration versus market share: which determines performance and why does it matter?, Antitrust Bulletin, 27, 83–106.
  • Gilbert, R. A. (1984) Bank market structure and competition: a survey, Journal of Money, Credit and Banking, 16, 617–45.
  • Hay, C. (2010) The political economy of price and status formation in the Bordeaux en primeur market: the role of wine critics as rating agencies, Socio-Economic Review, 8, 685–707. doi:10.1093/ser/mwq007
  • Hicks, J. R. (1935) Annual survey of economic theory: the theory of monopoly, Econometrica, 3, 1–20.
  • Hodgson, R. T. (2009) How expert are “Expert” wine judges?, Journal of Wine Economics, 4, 233–41. doi:10.1017/S1931436100000821
  • Hodgson, R. T. and Cao, J. (2014) Criteria for accrediting expert wine judges, Journal of Wine Economics, 9, 62–74. doi:10.1017/jwe.2013.26
  • Jenny, F. and Weber, A. P. (1976) Profit rates and structural variables in French manufacturing industries, European Economic Review, 7, 187–206. doi:10.1016/0014-2921(76)90058-1
  • Kwoka, J. E. (1977) Large firms dominance and price-cost margins in manufacturing industries, Southern Economic Journal, 44, 183–89.
  • Lloyd-Williams, D. M., Molyneux, P. and Thornton, J. (1994) Market structure and performance in Spanish banking, Journal of Banking & Finance, 18, 433–43. doi:10.1016/0378-4266(94)90002-7
  • McDonald, J. T. (1999) The determinants of firm profitability in Australian manufacturing, Economic Record, 75, 115–26. doi:10.1111/ecor.1999.75.issue-2
  • Melnik, N. and Alm, J. (2005) Seller reputation, information signals, and prices for heterogeneous coins on eBay, Southern Economic Journal, 72, 305–28.
  • Molyneux, P. and Forbes, W. (1995) Market structure and performance in European banking, Applied Economics, 27, 155–59. doi:10.1080/00036849500000018
  • Neumann, M., Böbel, I. and Haid, A. (1985) Domestic concentration, foreign trade and economic performance, International Journal of Industrial Organization, 3, 1–19. doi:10.1016/0167-7187(85)90010-4
  • Nowak, L. and Anderson, S. (1999) The importance of non-financial performance measures in wine business strategy, International Journal of Wine Marketing, 11, 9–19. doi:10.1108/eb008697
  • Outreville, J. F. (2011) Wine production in Québec: an investigation into the price-quality relationship, Enometrica, 4, 7–22.
  • Panzar, J. C. and Rosse, J. N. (1987) Testing for monopoly equilibrium, Journal of Industrial Economics, 35, 443–56.
  • Parsons, C. R. and de Vanssay, X. (2013) Measuring market power in the Japanese beer industry, in AAWE Working Paper Series, 2013–2131. American Association of Wine Economists, New York University, New York.
  • Peltzman, S. (1977) The gains and losses from industrial concentration, Journal of Law and Economics, 20, 229–63.
  • Perekhozhuk, O., Hockmann, H., Fertő, I., and Bakucs, L. Z. (2013) Identification of market power in the Hungarian dairy industry: A Plant-Level Analysis, Journal of Agricultural & Food Industrial Organization, 11, 1–13. doi:10.1515/jafio-2012-0005
  • Phillips, A. (1976) A critique of empirical studies of relations between market structure and profitability, Journal of Industrial Economics, 24, 241–49.
  • Pope, N. and Ma, Y.-L. (2008) The market structure-performance relationship in the international insurance sector, Journal of Risk & Insurance, 75, 947–66. doi:10.1111/jori.2008.75.issue-4
  • Porter, M. E. (1980) Competitive Strategy: Techniques for Analyzing Industries and Competitors, The Free Press, New York.
  • Porter, M. E. (1991) Towards a dynamic theory of strategy, Strategic Management Journal, 12, 95–117. doi:10.1002/(ISSN)1097-0266
  • Rezitis, A. and Kalantzi, M. (2012) Measuring market power and welfare losses in the Greek food and beverages manufacturing industry, Journal of Agricultural & Food Industrial Organization, 10, 1–33. doi:10.1515/1542-0485.1368
  • Rhoades, S. A. (1985) Market share as a source of market power: implications and some evidence, Journal of Economics and Business, 37, 343–63. doi:10.1016/0148-6195(85)90027-X
  • Schamel, G. (2000) Individual and collective reputation indicators of wine quality, in Policy Discussion Paper no. 9, Center for International Economic Studies, University of Adelaide, Adelaide.
  • Shepherd, W. (1982) Economies of scale and monopoly profits, in Industrial Organization, Antitrust, and Public Policy, Craven, J. V. (Ed), Kluwer Nijhoff.
  • Smirlock, M. (1985) Evidence on the (non) relationship between concentration and profitability in banking, Journal of Money, Credit and Banking, 17, 69–83.
  • Stigler, G. L. (1964) A theory of oligopoly, Journal of Political Economy, 72, 44–61.
  • Weiss, L. W. (1974) The concentration-profits relationship and antitrust, in Industrial Concentration: The New Learning, Goldschmid, H., Mann, H., and Weston, J. (Eds), Little, Brown, Boston, MA.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.