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          Volume 23, Number 01, July 1998 >

Please use this identifier to cite or link to this item: http://purl.umn.edu/31170

Title: EXPERIMENTAL SIMULATION OF PUBLIC INFORMATION IMPACTS ON PRICE DISCOVERY AND MARKETING EFFICIENCY IN THE FED CATTLE MARKET
Authors: Anderson, John D.
Ward, Clement E.
Koontz, Stephen R.
Peel, Derrell S.
Trapp, James N.
Issue Date: 1998-07
Abstract: Federal budgetary pressures raise questions regarding the importance of public market information. This study assesses the impact of price discovery and production efficiency of reducing public price and quantity information. The amount and type of information provided to Fed Cattle Market Simulator (FCMS) participants was varied by periodically withholding current and weekly summary information according to a predetermined experimental design. Results show that reducing information increased price variance and decreased marketing efficiency; that is, more cattle were delivered at weights deviating from 1,150 pounds- the least-cost marketing weight in the simulator. These factors, which increase costs, make the industry less competitive.
URI: http://purl.umn.edu/31170
Institution/Association: Journal of Agricultural and Resource Economics>Volume 23, Number 01, July 1998
Total Pages: 17
Language: English
From Page: 262
To Page: 278
Collections:Volume 23, Number 01, July 1998

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