Competition and Oligopsony in the Douglas Fir Lumber Industry

Front Cover
University of California Press
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Contents

Introduction
1
Economies of Scale in Lumber Production
11
Distribution of lumber output in western United States by firm
19
Estimates of costs at various levels of output mill A
28
Elasticity of Demand for Lumber and Timber
32
Lumber use per dwelling unit in selected years between 1920
41
Price trends for Douglas fir lumber compared with those
42
Relationships between employment labor cost and stumpage
48
Fluctuations in price and output lumber 19531960
132
Fluctuations in price and output steel 19531960
133
Timber Sale Procedures
135
Index of Douglas fir log sales consummated in the Columbia River Grays Harbor and Puget Sound areas 19471961
137
Bidding Strategy in the Market
142
Decisionmaking process in bidding on federal timber sales
145
Tokenbid sale Willamette National Forest
156
Oligopsony in the Timber Resource Market
159

Elasticity of Supply for Timber and Lumber
51
Log production by source Douglas fir region 19531962
55
Model for federal timber supply
67
Cost and demand model for lumber firms
69
Economic Concentration in Timber Resource
77
Concentration in ownership of commercial forest land in
80
Trend in timber resource concentration in Oregon and Wash
86
Douglas fir stumpage prices 19101964
89
Softwood log exports from Oregon and Washington 19611964
92
Economic Concentration in Lumber Production
97
Economic concentration in the national lumber industry and
99
Concentration ratios for lumber veneer and plywood 1947
100
Production by twenty largest lumberproducing firms in
106
Number of and production by sawmills in the Douglas fir region by size class 19481962
107
Organization of lumber distribution
109
Conditions of Entry into the Lumber Industry
111
Relationship between lumber prices and number of mills
119
MARKET CONDUCT
125
Marketprice determination in an oligopsony when collusion is absent
166
Bidprice reaction functions
172
Sale Basis
179
Characteristics of competitive and noncompetitive oral auction
189
Competitive characteristics of oral auction and sealedbid sales
197
Net regression lines showing bidappraisal ratio computed from logarithm of number of bidders
202
Net regression lines showing bidappraisal ratio computed from volume per sale
203
Number of working circles classified by percent of total volume sold under competitive conditions 19591962
209
Test of homogeneity between observed and theoretical fre
211
Net regression lines showing percent competitive computed from average number of bidders and select values of percent of volume purchased by lar...
218
Bidder Futility and the Market Power
220
Performance in Resource Management
229
Productivity of recently cut commercial forest land in
247
Lumber price index deflated by All Commodities Wholesale Price Index and All Construction Materials Price Index
251
Factor substitution 35
253
Ratio of hourly wage rates in Douglas fir lumbermanufacturing industry to all manufacturing and ratio of Douglas fir lumber prices to All Commodit...
254
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