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Journal of Agricultural and Applied Economics >
Volume 32, Number 01, April 2000 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/15388
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| Title: | SUPPLY AND DEMAND RISKS IN LABORATORY FORWARD AND SPOT MARKETS: IMPLICATIONS FOR AGRICULTURE |
| Authors: | Menkhaus, Dale J.
Bastian, Christopher T.
Phillips, Owen R.
O'Neill, Patrick D. |
| Keywords: | laboratory markets
forward market
spot market
supply and/or demand risks |
| Issue Date: | 2000-04 |
| Abstract: | Laboratory experimental methods are used to investigate the impacts of supply and/or demand risks on prices, quantities traded, and earnings within forward and spot market institutions. Random demand and/or supply shifts can be as much as 25 percent of the expected equilibrium outcome. Nevertheless, results suggest that the spot or forward trading institution itself has a greater influence on market outcomes than the presence of risk within the trading institutions. Sellers tend to have relatively higher earnings in a spot market than buyers, regardless of the risk. Total surplus, however, generally is greater in a forward market. |
| URI: | http://purl.umn.edu/15388 |
| Institution/Association: | Journal of Agricultural and Applied Economics>Volume 32, Number 01, April 2000 |
| Total Pages: | 15 |
| Language: | English |
| From Page: | 159 |
| To Page: | 173 |
| Collections: | Volume 32, Number 01, April 2000
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| 32010159.pdf | 1136Kb | PDF | View/Open |
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