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

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.


Issue Date:
2002
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/19894
Total Pages:
27
Series Statement:
Selected Paper




 Record created 2017-04-01, last modified 2017-08-24

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