THE ROLE OF TRANSACTION COSTS IN MARKET SELECTION: MARKET SELECTION IN COMMERCIAL FEEDER CATTLE OPERATIONS

DeeVon Bailey and Lynn Hunnicutt

No 19894, 2002 Annual meeting, July 28-31, Long Beach, CA from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: A survey of commercial feeder cattle operations in Utah revealed that explicit transaction costs such as transportation, shrink, and commissions can not fully explain how marketing alternatives are selected. Implicit transaction costs appear to play a critical role in the determination of market selection. For example, the level of trust between buyer and seller and the socio-economic characteristics of market participants are determinants of which marketing method will be used to sell feeder cattle.

Keywords: Livestock Production/Industries; Marketing (search for similar items in EconPapers)
Pages: 27
Date: 2002
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea02:19894

DOI: 10.22004/ag.econ.19894

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