EconPapers    
Economics at your fingertips  
 

A Note on First-Price Sealed-Bid Cattle Auctions in the Presence of Captive Supplies

John Crespi and Tian Xia

Agricultural and Resource Economics Review, 2015, vol. 44, issue 3, 340-345

Abstract: The authors present an analytical model of a first-price sealed-bid cattle auction in which a spot and coordinated markets are interconnected. The model reveals that the conventional wisdom that market coordination negatively affects the bid price in the spot market is an oversimplification. The relationships between key market variables impact bids and bid shading in complex ways. While captive supplies can lead to lower spot prices, the price reductions do not necessarily stem from an increase in market power due to contracting. The model emphasizes the importance of several variables for future empirical studies.

Date: 2015
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://www.cambridge.org/core/product/identifier/ ... type/journal_article link to article abstract page (text/html)

Related works:
Journal Article: A Note on First-Price Sealed-Bid Cattle Auctions in the Presence of Captive Supplies (2015) Downloads
Working Paper: A Note on First-Price Sealed-Bid Cattle Auctions in the Presence of Captive Supplies (2015) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cup:agrerw:v:44:y:2015:i:03:p:340-345_00

Access Statistics for this article

More articles in Agricultural and Resource Economics Review from Cambridge University Press Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK.
Bibliographic data for series maintained by Keith Waters ().

 
Page updated 2020-09-30
Handle: RePEc:cup:agrerw:v:44:y:2015:i:03:p:340-345_00