A measure of the relative size of an industry's largest firms. There are many specific concentration measures. The most common measure is the four-firm concentration ratio (CR4), which measures the combined share of industry sales held by the four largest firms in an industry. Another commonly used measure is the Herfindahl Index, which is the sum of the squared market shares of the firms in a market. In many food and agricultural contexts, where buyer concentration is of concern, concentration may focus on purchases of an agricultural input, such as cattle or corn. Increases in concentration generally reflect declines in the number of competing firms in a market.
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