Analyzing the pricing efficiency in spatial markets: Concept and application

Sanjeev Gupta and Rolf A.E. Mueller

European Review of Agricultural Economics, 1982, vol. 9, issue 3, 301-312

Abstract: In this paper a technique is suggested for analyzing the price relationships between regional markets which avoids the ambiguity of the correlation coefficient. The method is based on Fama's concept of pricing efficiency and consists of tests included under the heading Granger Causality. The method is applied to price series from three regional markets for slaughter hogs in West Germany. The paper concludes with an evaluation of the suggested method.

Date: 1982
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