This thesis is an extension of a recent study into the relationship between merger size and profitability. It studies a class of Cournot oligopoly with linear cost and quadratic demand. Its focus is to analyze how a mergers profitability is affected by its size and by the demand elasticity. Such results have not yet been reported in previous studies, perhaps due to the complexity of the equilibrium equation involved. It shows an increase in the demand elasticity also raises a mergers profitability. Consequently, an increase in the demand elasticity reduces merged members critical combined per-merger market share for the merger to be profit enhancing. Comparing with 80% minimum market share requirement for a profitable merger in Salant, Switzer, and Reynolds (1983), a greater market share is needed when the demand function is concave (demand is relatively inelastic), while a smaller market share may still be profitable when the demand function is convex (demand is relatively elastic). In our model, mergers are generally detrimental to public interests by increasing market price and reducing output. However, the merger will be less harmful when the goods are very inelastic.

This thesis is an extension of a recent study into the relationship between merger size and profitability. It studies a class of Cournot oligopoly with linear cost and quadratic demand. Its focus is to analyze how a mergers profitability is affected by its size and by the demand elasticity. Such results have not yet been reported in previous studies, perhaps due to the complexity of the equilibrium equation involved. It shows an increase in the demand elasticity also raises a mergers profitability. Consequently, an increase in the demand elasticity reduces merged members critical combined per-merger market share for the merger to be profit enhancing. Comparing with 80% minimum market share requirement for a profitable merger in Salant, Switzer, and Reynolds (1983), a greater market share is needed when the demand function is concave (demand is relatively inelastic), while a smaller market share may still be profitable when the demand function is convex (demand is relatively elastic). In our model, mergers are generally detrimental to public interests by increasing market price and reducing output. However, the merger will be less harmful when the goods are very inelastic.

Lightweight thermal paper (LWTP) is a noteworthy import commodity with wide usage and large import value in the United States. In this study, the trade pattern and market dynamics of the LWTP import market in the U.S. has been examined based on almost ideal demand system. The results revealed that both the trade volume and import source of LWTP had changed during last decade. Competition relationships were found among major suppliers in both the short run and long run, and the long-run competition is stronger than that in the short run. The repeal of restriction on conducting countervailing investigation against non-market economy temporarily stimulated the import of LWTP products from China, but the following antidumping/countervailing investigation and the corresponding punitive duties generated trade depression effect on the imports. In addition, positive trade diversion effect was found on German products, which raises doubt on the effectiveness of this trade remedy policy.

A escolha de um alimento é largamente influenciada pelas características sócio-demográficas, culturais e sociais dos consumidores, bem como pelo seu estilo de vida. Através de um melhor conhecimento do consumidor, é possível a definição de estratégias factíveis pelas empresas, de acordo com seus recursos humanos, financeiros e interesses específicos. O objetivo geral deste estudo foi verificar as preferências e hábitos de compra de carne bovina e o comportamento da demanda por cortes cárneos bovinos tradicionais e com marca (premium). Além disso, buscou-se caracterizar o consumidor de carne bovina da amostra estudada; verificar se o consumidor conhece marcas e certificações de cortes cárneos bovinos; identificar a relevância de atributos de qualidade no momento da aquisição, agrupando os consumidores conforme seu perfil de decisão de compra; por fim, analisar a elasticidade das quantidades demandadas de diferentes cortes cárneos bovinos e comparar os comportamentos de elasticidade-preço entre os cortes tradicionais e premium. Para atingir os objetivos propostos, o método utilizado consistiu de duas partes: a primeira, a utilização de um instrumento de coleta aplicado a consumidores de carne bovina durante a compra do produto, utilizando-se como ferramentas estatísticas os testes de Qui-Quadrado e Análise de Correspondência Múltipla; a segunda, a análise de uma base de dados contendo informações referentes a preços e montantes comercializados de diferentes cortes cárneos bovinos, na qual analisou-se os valores médios de preços por quilo, quantidades vendidas e calculou-se as elasticidades da demanda para os produtos estudados. Os resultados evidenciaram que consumidores jovens (até 30 anos), com menores níveis de renda (até 3 salários mínimos) e escolaridade (nível fundamental) apresentaram perfil de compra mais permissivo a interferências externas, desconheciam a definição de produtos premium e não optaram por carne bovina com marca no momento da compra, diferente dos consumidores acima de 60 anos, os quais demonstraram um perfil de compra mais conservador e não influenciável. Os atributos de qualidade mais valorizados foram a aparência, o preço e o tipo de corte, sendo que a marca e as certificações foram pouco relevantes como ferramentas de auxílio na decisão de compra. Quanto ao comportamento da demanda, para os cortes premium Alcatra, Maminha, Filé de costela e Picanha, observou-se uma distinção de preços marcante em comparação aos produtos tradicionais, a qual refletiu em quantidade demandada massivamente inferior pelos produtos com marca, e que quando os preços médios por quilo destes cortes diminuíram, houve tendência a maior procura por parte do consumidor. A Alcatra tradicional, o Filé de costela com marca e a Costela tradicional apresentaram na média demandas inelásticas, podendo indicar tendência a fidelização do consumidor a estes produtos. / The choice of food is largely influenced by socio-demographic, cultural and social characteristics of consumers, as well as for their lifestyle. Through a better understanding of the consumer, it is possible to define feasible strategies by companies, according to their human, financial and special interest features. The aim of this study was to determine the preferences and habits of beef purchase and the behavior of demand for traditional and branded (premium) beef cuts. In addition, it sought to characterize the consumer of beef of the sample; check whether the consumer knows branded and certified beef cuts and; identify the relevant quality attributes at the time of acquisition, grouping customers according to their buying decision profile; finally, analyze the elasticity of the quantity demanded of different beef cuts and compare the behavior of price elasticity between traditional and premium cuts. To achieve the proposed objectives, the method used consisted of two parts: first, the use of a collection tool applied to beef consumers during the purchase of the product, using as statistical tools the chi-square tests and analysis Matching Multiple. The second, a database containing information relating to prices and amounts traded of different meat beef cuts, which analyzed the average values of prices per kilo quantities sold and calculated the elasticities of demand for the products studied. The results showed that young consumers (up to 30 years), with lower levels of income (until 3 minimmum wages) and education (basic level) were influenced by the presence of posters and advertising at point of sale, did not kwnow the definition of premium products and not opt for beef branded at the time of purchase, unlike consumers over 60 years, which showed a more conservative buying profile and no pushover. The most valued attributes were the appearance, the price and the type of cut, and the brand and certifications were little relevant as aid tools in the product purchase decision. Regarding the behavior of the demand, for premium cuts Rump steak, Rump skirt, Cube roll and Sirloin cap, there was a marked price difference compared to traditional products, which reflected in the quantity demanded massively lower by branded products, and that when the average price per kilo of these cuts have decreased, a trend towards increased demand by consumers. The traditional Rump steak, the branded Cube roll and traditional Short ribs showed average inelastic demands, which may indicate a tendency to consumer loyalty to these products.

A escolha de um alimento é largamente influenciada pelas características sócio-demográficas, culturais e sociais dos consumidores, bem como pelo seu estilo de vida. Através de um melhor conhecimento do consumidor, é possível a definição de estratégias factíveis pelas empresas, de acordo com seus recursos humanos, financeiros e interesses específicos. O objetivo geral deste estudo foi verificar as preferências e hábitos de compra de carne bovina e o comportamento da demanda por cortes cárneos bovinos tradicionais e com marca (premium). Além disso, buscou-se caracterizar o consumidor de carne bovina da amostra estudada; verificar se o consumidor conhece marcas e certificações de cortes cárneos bovinos; identificar a relevância de atributos de qualidade no momento da aquisição, agrupando os consumidores conforme seu perfil de decisão de compra; por fim, analisar a elasticidade das quantidades demandadas de diferentes cortes cárneos bovinos e comparar os comportamentos de elasticidade-preço entre os cortes tradicionais e premium. Para atingir os objetivos propostos, o método utilizado consistiu de duas partes: a primeira, a utilização de um instrumento de coleta aplicado a consumidores de carne bovina durante a compra do produto, utilizando-se como ferramentas estatísticas os testes de Qui-Quadrado e Análise de Correspondência Múltipla; a segunda, a análise de uma base de dados contendo informações referentes a preços e montantes comercializados de diferentes cortes cárneos bovinos, na qual analisou-se os valores médios de preços por quilo, quantidades vendidas e calculou-se as elasticidades da demanda para os produtos estudados. Os resultados evidenciaram que consumidores jovens (até 30 anos), com menores níveis de renda (até 3 salários mínimos) e escolaridade (nível fundamental) apresentaram perfil de compra mais permissivo a interferências externas, desconheciam a definição de produtos premium e não optaram por carne bovina com marca no momento da compra, diferente dos consumidores acima de 60 anos, os quais demonstraram um perfil de compra mais conservador e não influenciável. Os atributos de qualidade mais valorizados foram a aparência, o preço e o tipo de corte, sendo que a marca e as certificações foram pouco relevantes como ferramentas de auxílio na decisão de compra. Quanto ao comportamento da demanda, para os cortes premium Alcatra, Maminha, Filé de costela e Picanha, observou-se uma distinção de preços marcante em comparação aos produtos tradicionais, a qual refletiu em quantidade demandada massivamente inferior pelos produtos com marca, e que quando os preços médios por quilo destes cortes diminuíram, houve tendência a maior procura por parte do consumidor. A Alcatra tradicional, o Filé de costela com marca e a Costela tradicional apresentaram na média demandas inelásticas, podendo indicar tendência a fidelização do consumidor a estes produtos. / The choice of food is largely influenced by socio-demographic, cultural and social characteristics of consumers, as well as for their lifestyle. Through a better understanding of the consumer, it is possible to define feasible strategies by companies, according to their human, financial and special interest features. The aim of this study was to determine the preferences and habits of beef purchase and the behavior of demand for traditional and branded (premium) beef cuts. In addition, it sought to characterize the consumer of beef of the sample; check whether the consumer knows branded and certified beef cuts and; identify the relevant quality attributes at the time of acquisition, grouping customers according to their buying decision profile; finally, analyze the elasticity of the quantity demanded of different beef cuts and compare the behavior of price elasticity between traditional and premium cuts. To achieve the proposed objectives, the method used consisted of two parts: first, the use of a collection tool applied to beef consumers during the purchase of the product, using as statistical tools the chi-square tests and analysis Matching Multiple. The second, a database containing information relating to prices and amounts traded of different meat beef cuts, which analyzed the average values of prices per kilo quantities sold and calculated the elasticities of demand for the products studied. The results showed that young consumers (up to 30 years), with lower levels of income (until 3 minimmum wages) and education (basic level) were influenced by the presence of posters and advertising at point of sale, did not kwnow the definition of premium products and not opt for beef branded at the time of purchase, unlike consumers over 60 years, which showed a more conservative buying profile and no pushover. The most valued attributes were the appearance, the price and the type of cut, and the brand and certifications were little relevant as aid tools in the product purchase decision. Regarding the behavior of the demand, for premium cuts Rump steak, Rump skirt, Cube roll and Sirloin cap, there was a marked price difference compared to traditional products, which reflected in the quantity demanded massively lower by branded products, and that when the average price per kilo of these cuts have decreased, a trend towards increased demand by consumers. The traditional Rump steak, the branded Cube roll and traditional Short ribs showed average inelastic demands, which may indicate a tendency to consumer loyalty to these products.

A escolha de um alimento é largamente influenciada pelas características sócio-demográficas, culturais e sociais dos consumidores, bem como pelo seu estilo de vida. Através de um melhor conhecimento do consumidor, é possível a definição de estratégias factíveis pelas empresas, de acordo com seus recursos humanos, financeiros e interesses específicos. O objetivo geral deste estudo foi verificar as preferências e hábitos de compra de carne bovina e o comportamento da demanda por cortes cárneos bovinos tradicionais e com marca (premium). Além disso, buscou-se caracterizar o consumidor de carne bovina da amostra estudada; verificar se o consumidor conhece marcas e certificações de cortes cárneos bovinos; identificar a relevância de atributos de qualidade no momento da aquisição, agrupando os consumidores conforme seu perfil de decisão de compra; por fim, analisar a elasticidade das quantidades demandadas de diferentes cortes cárneos bovinos e comparar os comportamentos de elasticidade-preço entre os cortes tradicionais e premium. Para atingir os objetivos propostos, o método utilizado consistiu de duas partes: a primeira, a utilização de um instrumento de coleta aplicado a consumidores de carne bovina durante a compra do produto, utilizando-se como ferramentas estatísticas os testes de Qui-Quadrado e Análise de Correspondência Múltipla; a segunda, a análise de uma base de dados contendo informações referentes a preços e montantes comercializados de diferentes cortes cárneos bovinos, na qual analisou-se os valores médios de preços por quilo, quantidades vendidas e calculou-se as elasticidades da demanda para os produtos estudados. Os resultados evidenciaram que consumidores jovens (até 30 anos), com menores níveis de renda (até 3 salários mínimos) e escolaridade (nível fundamental) apresentaram perfil de compra mais permissivo a interferências externas, desconheciam a definição de produtos premium e não optaram por carne bovina com marca no momento da compra, diferente dos consumidores acima de 60 anos, os quais demonstraram um perfil de compra mais conservador e não influenciável. Os atributos de qualidade mais valorizados foram a aparência, o preço e o tipo de corte, sendo que a marca e as certificações foram pouco relevantes como ferramentas de auxílio na decisão de compra. Quanto ao comportamento da demanda, para os cortes premium Alcatra, Maminha, Filé de costela e Picanha, observou-se uma distinção de preços marcante em comparação aos produtos tradicionais, a qual refletiu em quantidade demandada massivamente inferior pelos produtos com marca, e que quando os preços médios por quilo destes cortes diminuíram, houve tendência a maior procura por parte do consumidor. A Alcatra tradicional, o Filé de costela com marca e a Costela tradicional apresentaram na média demandas inelásticas, podendo indicar tendência a fidelização do consumidor a estes produtos. / The choice of food is largely influenced by socio-demographic, cultural and social characteristics of consumers, as well as for their lifestyle. Through a better understanding of the consumer, it is possible to define feasible strategies by companies, according to their human, financial and special interest features. The aim of this study was to determine the preferences and habits of beef purchase and the behavior of demand for traditional and branded (premium) beef cuts. In addition, it sought to characterize the consumer of beef of the sample; check whether the consumer knows branded and certified beef cuts and; identify the relevant quality attributes at the time of acquisition, grouping customers according to their buying decision profile; finally, analyze the elasticity of the quantity demanded of different beef cuts and compare the behavior of price elasticity between traditional and premium cuts. To achieve the proposed objectives, the method used consisted of two parts: first, the use of a collection tool applied to beef consumers during the purchase of the product, using as statistical tools the chi-square tests and analysis Matching Multiple. The second, a database containing information relating to prices and amounts traded of different meat beef cuts, which analyzed the average values of prices per kilo quantities sold and calculated the elasticities of demand for the products studied. The results showed that young consumers (up to 30 years), with lower levels of income (until 3 minimmum wages) and education (basic level) were influenced by the presence of posters and advertising at point of sale, did not kwnow the definition of premium products and not opt for beef branded at the time of purchase, unlike consumers over 60 years, which showed a more conservative buying profile and no pushover. The most valued attributes were the appearance, the price and the type of cut, and the brand and certifications were little relevant as aid tools in the product purchase decision. Regarding the behavior of the demand, for premium cuts Rump steak, Rump skirt, Cube roll and Sirloin cap, there was a marked price difference compared to traditional products, which reflected in the quantity demanded massively lower by branded products, and that when the average price per kilo of these cuts have decreased, a trend towards increased demand by consumers. The traditional Rump steak, the branded Cube roll and traditional Short ribs showed average inelastic demands, which may indicate a tendency to consumer loyalty to these products.

The popularity of natural rubber as an important raw material was distorted in the post-World War Two period. It received heavy competition from synthetic rubber. The main purpose of this paper is to determine and to study supply elasticity and demand elasticity of natural rubber in the case of Malaysia. The main aim of analyzing the period since 1971 is that both price and quality competitiveness of Malaysian natural rubber have drastically improved. Therefore, in order for Malaysia to maintain her position as the leading producer and exporter of natural rubber in the world, supportive policies and incentives from the government would further enhance the prospects for improvements in this industry.

People make food choices based upon the motivation to consume foods that are reinforcing compared to alternatives that may be available.1 Delay discounting (DD) is a measure used to assess impulsivity, quantifying how people make decisions based on time to receive and amount of the choice presented. The food purchase task (FPT) assesses the demand for a food and how reinforcing this item is at various prices. Using a controlled feeding study design, 10 males (n=7 sedentary, n=10 endurance trained) consumed an iso-caloric, standard diet (55% carbohydrate, 30% fat, and 15% protein) for 10 days, followed by a high-fat diet (55% fat, 30% carbohydrate, 15% protein) for 5 days. DD, FPT, and Three Factor Eating Questionnaire (TFEQ) were assessed at three time points: baseline, after the standard diet/before high-fat diet, and after the high-fat diet. Discounting rates were significantly different at baseline between sedentary and endurance trained males, with the sedentary males having higher discounting rates (mean difference 1.43, p=.037). Discounting rates for the whole sample significantly decreased between baseline (time 1) and post-STD diet/before HFD (time 2), between time 2 and after the HFD (time 3), and between time 1 and time 3 (all indicated by p<0.05). No group differences were noted over time for demand elasticity, intensity, or TFEQ measures (all indicated by p<0.05). Results could be used to advance the understanding of factors that influence impulsive and unhealthy eating behaviors and inform the development of interventions that use reinforcers to positively influence eating behaviors. / MS

消費者價格彈性與通路價格策略 - 以洋芋片為例 / With modest increase of wage level and increasing inflation of raw material prices in Taiwan, manufacturers face pressure in maximizing profit with limited pricing power. Price and pack size management become keys for revenue maximization. The idea of this research originates from the observations from a price increase project of a key salty snack manufacturer in Taiwan. In the project, the manufacturer increased both pack size and price per gram of chip, aiming to sell bigger pack sizes in PX Mart, where shoppers are mainly housewives who buy for households. The price increase led to different outcomes in different channels due to shoppers’ different sensitivity. As a result, a choice-based conjoint (CBC) analysis was conducted to find out if shoppers in Convenient Store (CVS) and PX Mart have different sensitivities for potato chips. Also, pack sizes and different promotions are combined to test if deeper promotion depth can offset the negative impact from price increases. From the effect of different combinations, we offer recommendations on the optimal pack size and pricing strategy for the salty snack category in CVS and PX Mart, respectively.

Doctor of Philosophy / Department of Agricultural Economics / Tian Xia / This dissertation presents the development of a new approach to include the interaction of vertically differentiated products, a subject that has been largely ignored in previous studies, to analyze the market power of exporters and importers in the world markets of agricultural commodities. Three theoretical models, a residual demand elasticity (RDE) model, a residual supply elasticity (RSE) model, and a two-country partial equilibrium trade model, are developed, and the corresponding empirical models are specified for U.S.-Japan soybean trade. Genetically modified (GM) and non-genetically modified (non-GM) soybeans are vertically differentiated products in the sense that GM soybeans are largely defined as an inferior substitute to non-GM soybeans. I compare two versions of these models: a new approach in which the interaction between non-GM and GM soybeans is taken into account and the traditional approach in which the interaction is ignored. In each of the three models (the RDE model, the RSE model, and the partial equilibrium trade model), the traditional approach overestimates the market margin of U.S. non-GM soybean exporters and that of Japanese non-GM soybean importers. By considering the interaction between non-GM and GM soybeans, the new approach greatly reduces the estimates of the corresponding market margins of U.S. exporters and Japanese importers to improve the accuracy of such estimates. The statistical significance of the coefficient estimate of the interaction term, the U.S. GM soybean price or the Japanese GM soybean price, in all three models suggests that the new approach, which includes the interaction between non-GM and GM soybeans, is necessary and preferred. The partial equilibrium trade model includes both an RDE equation and an RSE equation in a system to address the possible contemporaneous cross-equation correlation. Thus, the estimation results of the partial equilibrium trade model are further improved, compared to those of the RDE model and the RSE model. Using the traditional approach to estimate the partial equilibrium trade model, I find that the U.S. non-GM soybean exporters’ market margin is 56.5% and the Japanese non-GM soybean importers’ market margin is 16.1%. However, the results obtained by using the new approach show that the market margins of U.S. exporters and Japanese importers are 33.2% and 6%, respectively. By taking into account the interaction between non-GM and GM soybeans, the new approach improves the accuracy of the estimates of market margins of soybean exporters and importers. U.S. non-GM soybean exporters do have a significant market margin in international markets, but it is not as large as the one suggested by the traditional approach. Although Japanese non-GM soybean importers enjoy some market margin, it is relatively small. The theoretical and empirical models and results in this dissertation provide new and more accurate estimates of residual demand and supply elasticities and market power and improve the understanding on world soybean markets. These results can be useful for industry participants in international soybean markets, academic researchers, and policy makers.