PRICING EFFICIENCY IN AGRICULTURAL MARKETS: ISSUES, METHODS, AND RESULTS

The notion of price efficiency is discussed in the context of an optimal information market. Approaches for assessing price or market efficiency are examined, including temporal, spatial, and form-transformation paradigms. The interdependent nature of these paradigms is stressed. Finally, a review is conducted of recent price efficiency research in cash, futures, and manufacturing-retailing markets. Research generally has paid inadequate attention to agentsÂ’ costs, including the cost of risk and the human capital cost of acquiring and evaluating information.


Issue Date:
1989-07
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/32461
Published in:
Western Journal of Agricultural Economics, Volume 14, Number 1
Page range:
111-121
Total Pages:
11




 Record created 2017-04-01, last modified 2017-08-25

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