Delineating the Relevant U.S. Sweetener Markets
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Charles B. Moss
The relevant market in the U.S. sweetener complex was a subject of debate in the United States v. Archer-Daniels Midland, Co. & Nabisco court case, in which the defendants successfully argued that price fixing in the non-sugar sweetener market was impossible because sugar and high fructose corn syrup (HFCS) were substitutes. Hence, they were both part of the so-called “relevant market.” We use cointegration analysis to show that over a large period of time, sugar prices and HFCS were positively correlated. However, focusing only on the time period 1997 through 2001, sugar and HFCS prices are not correlated. This lack of correlation in the later period implies that beginning in 1997, the relevant market for HFCS does not include sugar. Thus questions are continuingly raised as to the competitiveness of the HFCS industry.
©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
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- Delineating the Relevant U.S. Sweetener Markets
- Risk and Transactions Cost in Contracting: Results from a Choice-Based Experiment
- Economics of Private Labels: A Survey of Literature
- Promotion Carryover as a Missing-Data Problem
- Consumers' Responses to Front vs. Back Package GM Labels in Japan
- Strategic Public Policy Toward Agricultural Biotechnology with Externalities in Developing Countries
- Market Segmentation via Mixed Logit: Extra-Virgin Olive Oil in Urban Italy
- Proving Anti-Competitive Conduct in the U.S. Courtroom: The Plaintiff's Argument in Pickett v Tyson Fresh Meats, Inc.
- Market Conduct in the U.S. Ready-to-Eat Cereal Industry
- Revisiting the Price Effects of Rising Concentration in U.S. Food Manufacturing
- Proving Anti-Competitive Conduct in the U.S. Courtroom: The Plaintiff's Argument in Pickett v. Tyson Fresh Meats, Inc.: Comment
- Proving Anti-Competitive Conduct in the U.S. Courtroom: The Plaintiffs' Argument in Pickett v. Tyson Fresh Meats, Inc.: Response to Comment
Articles in the same Issue
- Article
- Delineating the Relevant U.S. Sweetener Markets
- Risk and Transactions Cost in Contracting: Results from a Choice-Based Experiment
- Economics of Private Labels: A Survey of Literature
- Promotion Carryover as a Missing-Data Problem
- Consumers' Responses to Front vs. Back Package GM Labels in Japan
- Strategic Public Policy Toward Agricultural Biotechnology with Externalities in Developing Countries
- Market Segmentation via Mixed Logit: Extra-Virgin Olive Oil in Urban Italy
- Proving Anti-Competitive Conduct in the U.S. Courtroom: The Plaintiff's Argument in Pickett v Tyson Fresh Meats, Inc.
- Market Conduct in the U.S. Ready-to-Eat Cereal Industry
- Revisiting the Price Effects of Rising Concentration in U.S. Food Manufacturing
- Proving Anti-Competitive Conduct in the U.S. Courtroom: The Plaintiff's Argument in Pickett v. Tyson Fresh Meats, Inc.: Comment
- Proving Anti-Competitive Conduct in the U.S. Courtroom: The Plaintiffs' Argument in Pickett v. Tyson Fresh Meats, Inc.: Response to Comment
