PhD student Christopher Pudenz and Associate Professor Lee Schulz published in the most recent issue of American Journal of Agricultural Economics. Pudenz and Schulz authored the article "Multi-plant coordination in the U.S. beef packing industry," which uses a Salop Circular City framework---including negotiated and formula pricing---to demonstrate that multi-plant coordination leads to wider spreads between downstream beef prices and upstream fed cattle prices if multi-plant coordination markdowns outweigh multi-plant coordination efficiencies.

Multi-plant coordination in the U.S. beef packing industry
Christopher C. Pudenz and Lee L. Schulz
American Journal of Agricultural Economics
doi.org/10.1111/ajae.12391