Market power and bargaining in agrifood markets: A review of emerging topics and tools

Abstract

Recent developments in modern agri-food markets have called into question the predictive capability of the traditional models and tools used by agricultural economists to assess and measure market power. As a result, agricultural economists are on a quest for novel methods and approaches that surpass the traditional market power construct. In this article, we present an essential overview of the evolution of the literature concerning power relationships in agrifood value chains. The goal of this review is to emphasize recent conceptual and empirical approaches, as well as highlight topics of interest that are likely to shape the direction of future analyses of market power and bargaining in the agrifood sector. [EconLit citations: L1, L2, L3, Q13, Q18].