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          Volume 35, Number 03, December 2003 >

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Title: Alternative Theories and Empirical Approaches to Price Discovery: An Application to Fed Cattle
Authors: Carlberg, Jared G.
Ward, Clement E.
Keywords: derived demand
fed cattle
partial adjustment model
price discovery
JEL Codes: Q13
Issue Date: 2003-12
Abstract: Price discovery is a frequent topic of research, but many times is not clearly defined and thus purported to cover a myriad of topics. This article provides two alternative theories as the basis for one line of price discovery research. Empirical models consistent with the two theories are estimated using a common data set. Empirical results differ as expected. This article evidences why the theoretical basis for an empirical model depends on clearly defining the objective(s) of the research.
Institution/Association: Journal of Agricultural and Applied Economics>Volume 35, Number 03, December 2003
Total Pages: 13
From Page: 649
To Page: 661
Collections: Volume 35, Number 03, December 2003

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