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Testing Oligopolistic Behaviors: Conduct and Cost in Taiwan's Flour Market

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ABSTRACT

Testing the validity of the new empirical industrial organization (NEIO) proposition is often made more complicated by a lack of reliable cost data. Nevertheless, the author takes advantage of a more sophisticated dataset to directly measure cost in Taiwan's flour market. In contrast to the previous findings, the evidence indicates that the NEIO technique performs reasonably well in estimating both conduct and cost parameters.

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