Implementation of Electronic Marketing of Slaughter Cattle in Virginia: Requirements and Procedures

James R. Russell and Wayne D. Purcell

Journal of Agricultural and Applied Economics, 1980, vol. 12, issue 1, 77-84

Abstract: Increased attention is being directed to electronic markets in the major agricultural commodities. Electronic markets are characterized by a trading arena that has been centralized via some electronic medium. The medium used may be a conference telephone, teletype, computer system, or some combination of these or other mechanisms. All make possible the sale of a commodity by description without requiring the physical proximity of buyer, seller, and product. In theory, this capability can eliminate or reduce the spatial imperfections and pricing problems now present in many “thin” markets, a topic of increasing concern throughout the food industry (Hayenga).

Date: 1980
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