{"id":2740,"date":"2024-07-18T16:51:45","date_gmt":"2024-07-18T16:51:45","guid":{"rendered":"https:\/\/ujm.com.ng\/?p=2740"},"modified":"2024-07-18T16:51:47","modified_gmt":"2024-07-18T16:51:47","slug":"an-empirical-analysis-of-competitive-markets-in-benin-metropolis","status":"publish","type":"post","link":"https:\/\/ujm.com.ng\/index.php\/2024\/07\/18\/an-empirical-analysis-of-competitive-markets-in-benin-metropolis\/","title":{"rendered":"An Empirical Analysis of Competitive Markets in Benin Metropolis"},"content":{"rendered":"\n<p class=\"has-text-align-center\"><strong>OSEMWENGIE, P. K. &amp; OSEMEILU, B. I.<\/strong><br>Department of Economics, Faculty of Social Sciences, University of Benin<br><em>For correspondence, email: presley.osemwengie@uniben.edu<\/em><\/p>\n\n\n\n<p><strong>Abstract<\/strong><br>This study examined competitive markets in Benin metropolis, Edo State, Nigeria, using a well- structured questionnaire to gather data. The data were analyzed using SPSS 22.0. The research findings shed light on the competitive dynamics and market imperfections in the Benin Metropolis markets, revealing specifically the absence of perfect competition. Findings further revealed the prevalence of market Imperfections such as price discrimination, collusion, and barriers to entry which significantly impact Market outcomes. Estimates of market equilibrium parameters offer crucial insights into market dynamics, while welfare analysis underscores the potential for policy interventions to enhance market outcomes. The findings from the study further enriched the literature on market competition and welfare analysis, laying the groundwork for future research in this domain. Based on the research findings, policymakers and stakeholders in Benin Metropolis should considered policies that reduce barriers to entry such as simplifying licensing requirements\/provide funding for start-ups businesses, increasing regulatory oversight and ensuring consumer protection policies that protect consumers from predatory pricing Practices.<br><strong>Keywords:<\/strong> Competitive markets, Market imperfections, Welfare analysis, Policy interventions<\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong><a href=\"https:\/\/ujm.com.ng\/wp-content\/uploads\/2024\/07\/An-Empirical-Analysis-of-Competitive-Markets-in-Benin-Metropolis.pdf\">DOWNLOAD FULL ARTICLE IN PDF<\/a><\/strong><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>OSEMWENGIE, P. K. &amp; OSEMEILU, B. I.Department of Economics, Faculty of Social Sciences, University of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2741,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[101],"tags":[124],"class_list":["post-2740","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-consumer-buying-behaviour","tag-information"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>An Empirical Analysis of Competitive Markets in Benin Metropolis - Uniben Journal of Marketing<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ujm.com.ng\/index.php\/2024\/07\/18\/an-empirical-analysis-of-competitive-markets-in-benin-metropolis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"An Empirical Analysis of Competitive Markets in Benin Metropolis - Uniben Journal of Marketing\" \/>\n<meta property=\"og:description\" content=\"OSEMWENGIE, P. 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I.Department of Economics, Faculty of Social Sciences, University of [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ujm.com.ng\/index.php\/2024\/07\/18\/an-empirical-analysis-of-competitive-markets-in-benin-metropolis\/\" \/>\n<meta property=\"og:site_name\" content=\"Uniben Journal of Marketing\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-18T16:51:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-18T16:51:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ujm.com.ng\/wp-content\/uploads\/2024\/07\/UJM-3-2-03.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"502\" \/>\n\t<meta property=\"og:image:height\" content=\"325\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"osaifo.osigo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"osaifo.osigo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/ujm.com.ng\\\/index.php\\\/2024\\\/07\\\/18\\\/an-empirical-analysis-of-competitive-markets-in-benin-metropolis\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ujm.com.ng\\\/index.php\\\/2024\\\/07\\\/18\\\/an-empirical-analysis-of-competitive-markets-in-benin-metropolis\\\/\"},\"author\":{\"name\":\"osaifo.osigo\",\"@id\":\"https:\\\/\\\/ujm.com.ng\\\/#\\\/schema\\\/person\\\/c8903c98a98c5ec11dbae639c35bbd06\"},\"headline\":\"An Empirical Analysis of Competitive Markets in Benin Metropolis\",\"datePublished\":\"2024-07-18T16:51:45+00:00\",\"dateModified\":\"2024-07-18T16:51:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ujm.com.ng\\\/index.php\\\/2024\\\/07\\\/18\\\/an-empirical-analysis-of-competitive-markets-in-benin-metropolis\\\/\"},\"wordCount\":211,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ujm.com.ng\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ujm.com.ng\\\/index.php\\\/2024\\\/07\\\/18\\\/an-empirical-analysis-of-competitive-markets-in-benin-metropolis\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ujm.com.ng\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/UJM-3-2-03.jpg\",\"keywords\":[\"information\"],\"articleSection\":[\"Consumer Buying Behaviour\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ujm.com.ng\\\/index.php\\\/2024\\\/07\\\/18\\\/an-empirical-analysis-of-competitive-markets-in-benin-metropolis\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ujm.com.ng\\\/index.php\\\/2024\\\/07\\\/18\\\/an-empirical-analysis-of-competitive-markets-in-benin-metropolis\\\/\",\"url\":\"https:\\\/\\\/ujm.com.ng\\\/index.php\\\/2024\\\/07\\\/18\\\/an-empirical-analysis-of-competitive-markets-in-benin-metropolis\\\/\",\"name\":\"An Empirical Analysis of Competitive Markets in Benin Metropolis - 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