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Graduate Research Master's Degree Plan B Papers >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/48844
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| Title: | Estimating the Benefits from Improved Market Information |
| Authors: | Kizito, Andrew |
| Authors (Email): | Kizito, Andrew (kizitoan@msu.edu) |
| Issue Date: | 2009 |
| Series/Report no.: | Dept. of Agricultural, Food, and Resource Economics Graduate Research Master's Degree Plan B Paper |
| Abstract: | Using a partial equilibrium model, the benefits of providing improved agricultural market information to farmers and small-scale traders of maize, millet, sorghum and paddy rice in Mali are estimated. The value of information is estimated as the reduction in dead-weight loss when farmers and small-scale traders with rational expectations respond to improved price forecasts from Market Information Systems. The study finds that benefits from improved information, which can also be viewed as a reduction of the cost of being off the equilibrium price and quantity, are great when there is high uncertainty about future prices, high own-price elasticity of supply, low own-price elasticity of demand, and high value of crop output. The study suggests that crop-specific, localized Market Information Systems (MIS) designed based on local area supply and demand responses to prices have higher returns than national uniformly distributed MISs covering a wide range of commodities in the country. |
| URI: | http://purl.umn.edu/48844 |
| Institution/Association: | Michigan State University>Dept. of Agricultural, Food, and Resource Economics>Graduate Research Master's Degree Plan B Papers |
| Total Pages: | 60 |
| Collections: | Graduate Research Master's Degree Plan B Papers
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Files in This Item:
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Size | Format |
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| KitzitoPlanBPaper2009.pdf | | 200Kb | PDF | View/Open |
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