PRICING EFFICIENCY IN AGRICULTURAL MARKETS: ISSUES, METHODS, AND RESULTS

Steven T. Buccola

Western Journal of Agricultural Economics, 1989, vol. 14, issue 01, 11

Abstract: The notion of price efficiency is discussed in the context of an optimal information market. Approaches for assessing price or market efficiency are examined, including temporal, spatial, and form-transformation paradigms. The interdependent nature of these paradigms is stressed. Finally, a review is conducted of recent price efficiency research in cash, futures, and manufacturing-retailing markets. Research generally has paid inadequate attention to agents' costs, including the cost of risk and the human capital cost of acquiring and evaluating information.

Keywords: Demand and Price Analysis; Marketing (search for similar items in EconPapers)
Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:ags:wjagec:32461

DOI: 10.22004/ag.econ.32461

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