caa a22 4500 378907638 CHVBK 20180305123533.0 cr unu---uuuuu 161128e20040123xx s 000 0 eng 10.2202/1542-0485.1031 doi (NATIONALLICENCE)gruyter-10.2202/1542-0485.1031 Delineating the Relevant U.S. Sweetener Markets [Elektronische Daten] [Charles B. Moss, Andrew Schmitz] The relevant market in the U.S. sweetener complex was a subject of debate in the United States v. Archer-Daniels Midland, Co. & Nabisco court case, in which the defendants successfully argued that price fixing in the non-sugar sweetener market was impossible because sugar and high fructose corn syrup (HFCS) were substitutes. Hence, they were both part of the so-called “relevant market.” We use cointegration analysis to show that over a large period of time, sugar prices and HFCS were positively correlated. However, focusing only on the time period 1997 through 2001, sugar and HFCS prices are not correlated. This lack of correlation in the later period implies that beginning in 1997, the relevant market for HFCS does not include sugar. Thus questions are continuingly raised as to the competitiveness of the HFCS industry. ©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston relevant market nationallicence HFCS nationallicence cointegration nationallicence Moss Charles B. Food and Resource Economics Department, Institute of Food and Agricultural Sciences, University of Florida, Gainesville, Florida, USA aut Schmitz Andrew Food and Resource Economics Department, Institute of Food and Agricultural Sciences, University of Florida, Gainesville, Florida, USA aut Journal of Agricultural & Food Industrial Organization De Gruyter 2/1(2004-01-23) 2:1 2004 2 jafio https://doi.org/10.2202/1542-0485.1031 text/html Onlinezugriff via DOI 1 research article jats NATIONALLICENCE 856 40 https://doi.org/10.2202/1542-0485.1031 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Moss Charles B. Food and Resource Economics Department, Institute of Food and Agricultural Sciences, University of Florida, Gainesville, Florida, USA aut NATIONALLICENCE 700 1- Schmitz Andrew Food and Resource Economics Department, Institute of Food and Agricultural Sciences, University of Florida, Gainesville, Florida, USA aut NATIONALLICENCE 773 0- Journal of Agricultural & Food Industrial Organization De Gruyter 2/1(2004-01-23) 2:1 2004 2 jafio CC0 http://creativecommons.org/publicdomain/zero/1.0 nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-gruyter