Implementing Antitrust Regulations in Dynamic Industries: The Case of the U.S. Cottonseed Industry

Q3 Business, Management and Accounting

Journal of Agricultural and Food Industrial Organization Pub Date : 2023-05-26 DOI:10.1515/jafio-2022-0053

Alexandre Magnier, N. Kalaitzandonakes, M. Allen

引用次数: 0

Abstract

Abstract In this paper, we reconsider the rationale used to justify a complaint filed by the U.S. Department of Justice regarding the acquisition of a cottonseed company by an agricultural biotechnology company. With the benefit of hindsight, we show that the competitive assessment overlooked significant market developments that were altering the competitive position of the firms under investigation. This review is intended to raise awareness of the complexities of enforcing antitrust policy in a dynamic environment, with a special emphasis on agricultural markets. We argue that antitrust analysis should incorporate a process view of competition to better account for present market dynamics and the everchanging competitive environment.

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在有活力的行业中实施反垄断法规——以美国棉花行业为例

摘要在本文中，我们重新考虑了美国司法部就一家农业生物技术公司收购一家棉籽公司提起的诉讼所依据的理由。事后来看，我们发现竞争评估忽略了正在改变被调查公司竞争地位的重大市场发展。这项审查旨在提高人们对在动态环境中执行反垄断政策的复杂性的认识，特别强调农业市场。我们认为，反垄断分析应纳入竞争的过程观，以更好地考虑当前的市场动态和不断变化的竞争环境。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Agricultural and Food Industrial Organization Business, Management and Accounting-Business, Management and Accounting (all)

CiteScore

3.10

自引率

0.00%

发文量

期刊介绍： The Journal of Agricultural & Food Industrial Organization (JAFIO) is a unique forum for empirical and theoretical research in industrial organization with a special focus on agricultural and food industries worldwide. As concentration, industrialization, and globalization continue to reshape horizontal and vertical relationships within the food supply chain, agricultural economists are revising both their views of traditional markets as well as their tools of analysis. At the core of this revision are strategic interactions between principals and agents, strategic interdependence between rival firms, and strategic trade policy between competing nations, all in a setting plagued by incomplete and/or imperfect information structures. Add to that biotechnology, electronic commerce, as well as the shift in focus from raw agricultural commodities to branded products, and the conclusion is that a "new" agricultural economics is needed for an increasingly complex "new" agriculture.