Measures of Buyer Concentration in the Australian Wool Market
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The study uses empirical measures of market concentration to examine buyer competition in wool between 1974 and 1992. Three measures of concentration are examined, concentration ratios, Herfindahl indices and Lorenz curves. Data from the Australian Council of Wool Exporters are used to obtain estimates of these measures over the sample period. The results indicate that the buying sector in the Australian wool market is relatively concentrated and calculation of Spearman correlation coefficients indicate that rankings have not altered significantly in recent years.