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Article
Estimating Market Power in the U.S. Copper Industry
Review of Industrial Organization (2006)
  • Claudio A. Agostini
Abstract
Before 1978, most of the domestic copper production in the US and an important share of imports were traded at a price set by the major US producers. At the same time, the rest of the world was trading copper at prices determined in auction markets. This two-price system ended in 1978, when the largest US producers began using the Comex price of refined copper as a benchmark for setting their prices. Using this regime shift, I empirically test the competitive behavior of the US copper industry before 1978. The results show that copper prices were close to the levels predicted by a competitive model of the industry.
Keywords
  • Copper,
  • Market Power,
  • Two-Price System,
  • U.S. Copper Industry
Publication Date
2006
Citation Information
Claudio A. Agostini. "Estimating Market Power in the U.S. Copper Industry" Review of Industrial Organization Vol. 28 Iss. 1 (2006)
Available at: http://works.bepress.com/claudio_agostini/13/