IDEAS home Printed from https://ideas.repec.org/a/ags/aareaj/117042.html
   My bibliography  Save this article

The valuation of market information from livestock selling complexes

Author

Listed:
  • Crase, Lin
  • Dollery, Brian

Abstract

The efficient operation of livestock markets is contingent upon producers accessing relevant market information which assists adjustment to production and distribution. This article provides an analysis of the value of market information gleaned by producers attending public livestock auctions. The article uses the Travel Cost Method to quantify the value of this information and notes the limitations of applying the Travel Cost Method in this context.

Suggested Citation

  • Crase, Lin & Dollery, Brian, 1999. "The valuation of market information from livestock selling complexes," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 43(2), pages 1-14, June.
    • Handle: RePEc:ags:aareaj:117042
    DOI: 10.22004/ag.econ.117042
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/117042/files/1467-8489.00076.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.117042?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. R.W.M. Johnson, 1994. "The National Interest, Westminster, And Public Choice," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 38(1), pages 1-30, April.
    2. Herath, Gamini & Jackson, Julie, 1994. "Estimation of Recreational Benefits of Lake Mokoan, Victoria, Australia Using the Travel Cost Method," 1994 Conference (38th), February 8-10, 1994, Wellington, New Zealand 148251, Australian Agricultural and Resource Economics Society.
    3. Johnson, R.W.M., 1994. "The National Interest, Westminster, and Public Choice," 1994 Conference (38th), February 8-10, 1994, Wellington, New Zealand 147923, Australian Agricultural and Resource Economics Society.
    4. Kwabena A. Anaman & Stephen C. Lellyett, 1996. "Contingent Valuation Study Of The Public Weather Service In The Sydney Metropolitan Area," Economic Papers, The Economic Society of Australia, vol. 15(3), pages 64-77, September.
    5. Jeff Bennett, 1996. "Estimating the Recreation Use Values of National Parks," Tourism Economics, , vol. 2(4), pages 303-320, December.
    6. Hill, Christine M., 1994. "Water quality improvement in the Darling River: A contingent valuation study," 1994 Conference (38th), February 8-10, 1994, Wellington, New Zealand 148253, Australian Agricultural and Resource Economics Society.
    7. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(3), pages 488-500.
    8. Tunstall, Allan W., 1992. "Corruption! At Flemington Markets? A Case Study in Public Policy," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 60(01), pages 1-11, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Chymis, Athanasios G. & James, Harvey S., Jr. & Konduru, Srinivasa & Pierce, Vern L., 2004. "Asymmetric Information In Cattle Auctions: The Problem Of Revaccinations," Working Papers 26039, University of Missouri Columbia, Department of Agricultural Economics.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jonathan Brooks, 1996. "Agricultural Policies In Oecd Countries: What Can We Learn From Political Economy Models?," Journal of Agricultural Economics, Wiley Blackwell, vol. 47(1‐4), pages 366-389, January.
    2. Musselwhite, Gary & Herath, Gamini, 2005. "Australia's regional forest agreement process: analysis of the potential and problems," Forest Policy and Economics, Elsevier, vol. 7(4), pages 579-588, May.
    3. Johnson, R.W.M., 1995. "Modelling Government Processes and Policies in Agriculture: A Review," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 63(03), pages 1-11, December.
    4. Chu-Shiu Li, 2005. "Risk Signaling in the Health Insurance Market," International Journal of Business and Economics, School of Management Development, Feng Chia University, Taichung, Taiwan, vol. 4(1), pages 45-52, April.
    5. Assaf Razin & Efraim Sadka & Chi-Wa Yuen, 1999. "An Information-Based Model of Foreign Direct Investment: The Gains from Trade Revisited," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 6(4), pages 579-596, November.
    6. Tisdell, Clem, 2014. "Information Technology's Impacts on Productivity, Welfare and Social Change: Second Version," Economic Theory, Applications and Issues Working Papers 195701, University of Queensland, School of Economics.
    7. Michael R. CARTER & Alain de JANVRY & Elisabeth SADOULET & Alexandros SARRIS, 2014. "Index-based weather insurance for developing countries: A review of evidence and a set of propositions for up-scaling," Working Papers P111, FERDI.
    8. Sevcan Yesiltas, 2009. "Financing Constraints and Investment: The Case of Turkish Manufacturing Firms," 2009 Meeting Papers 874, Society for Economic Dynamics.
    9. Konduru, Srinivasa & Kalaitzandonakes, Nicholas G. & Magnier, Alexandre, 2009. "GMO Testing Strategies and Implications for Trade: A Game Theoretic Approach," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49594, Agricultural and Applied Economics Association.
    10. König, Philipp J. & Pothier, David, 2018. "Safe but fragile: Information acquisition, sponsor support and shadow bank runs," Discussion Papers 15/2018, Deutsche Bundesbank.
    11. Andrea Attar & Thomas Mariotti & François Salanié, 2021. "Entry-Proofness and Discriminatory Pricing under Adverse Selection," American Economic Review, American Economic Association, vol. 111(8), pages 2623-2659, August.
    12. Reynolds, Travis & Kolodinsky, Jane & Murray, Byron, 2012. "Consumer preferences and willingness to pay for compact fluorescent lighting: Policy implications for energy efficiency promotion in Saint Lucia," Energy Policy, Elsevier, vol. 41(C), pages 712-722.
    13. Ginger Zhe Jin & Andrew Kato & John A. List, 2010. "That’S News To Me! Information Revelation In Professional Certification Markets," Economic Inquiry, Western Economic Association International, vol. 48(1), pages 104-122, January.
    14. Luigino Bruni & Pier Luigi Porta, 2016. "Happiness and quality of life reconciled," Chapters, in: Luigino Bruni & Pier Luigi Porta (ed.), Handbook of Research Methods and Applications in Happiness and Quality of Life, chapter 1, pages 1-19, Edward Elgar Publishing.
    15. Sukumar Vellakkal, 2013. "Determinants of Enrolment in Voluntary Health Insurance: Evidences from a Mixed Method Study, Kerala, India," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 4(2), pages 99-107, April.
    16. Loncarski, I. & Ter Horst, J.R. & Veld, C.H., 2006. "Why do Companies issue Convertible Bond Loans? An Empirical Analysis for the Canadian Market," Discussion Paper 2006-65, Tilburg University, Center for Economic Research.
    17. Michael A. Arnold & Joshua M. Duke & Kent D. Messer, 2013. "Adverse Selection in Reverse Auctions for Ecosystem Services," Land Economics, University of Wisconsin Press, vol. 89(3), pages 387-412.
    18. Anne‐Célia Disdier & Carl Gaigné & Cristina Herghelegiu, 2023. "Do standards improve the quality of traded products?," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 56(4), pages 1238-1290, November.
    19. Ritu Agarwal & Michelle Dugas & Guodong (Gordon) Gao & P. K. Kannan, 2020. "Emerging technologies and analytics for a new era of value-centered marketing in healthcare," Journal of the Academy of Marketing Science, Springer, vol. 48(1), pages 9-23, January.
    20. Villas-Boas, Sofia B, 2020. "Reduced Form Evidence on Belief Updating Under Asymmetric Information," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt08c456vk, Department of Agricultural & Resource Economics, UC Berkeley.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:aareaj:117042. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aaresea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.