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Trading Behavior in a Marginal Organized Market

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  • Peterson, Hikaru Hanawa

Abstract

As increasingly more transactions occur away from open markets, the so-called "thin" market issues arise. This paper analyzes unpublished transaction data from Egg Clearinghouse, Inc. (ECI), a marginal marketplace for eggs that trades 4% of all eggs (80% of eggs available for open trading). Results suggest that marginalized markets can serve as an inventory adjustment mechanism while maintaining the role of price discovery as a check for non-market prices. At ECI, most firms both buy and sell regardless of operational types, participation is balanced across all types of firms in the industry, and sellers in general yield to buyers' preferred terms of trade.

Suggested Citation

  • Peterson, Hikaru Hanawa, 2005. "Trading Behavior in a Marginal Organized Market," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 30(3), pages 1-20, December.
    • Handle: RePEc:ags:jlaare:30981
    DOI: 10.22004/ag.econ.30981
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    Cited by:

    1. Anderson, John D. & Hudson, Darren & Harri, Ardian & Turner, Steven C., 2007. "A New Taxonomy of Thin Markets," 2007 Annual Meeting, February 4-7, 2007, Mobile, Alabama 34826, Southern Agricultural Economics Association.
    2. Fatin Afiqah Md. Azmi, 2022. "Patterns in Number of Property Transactions of Pre-War Shophouse Case Study: Penang, Malacca and Kelantan ," GATR Journals gjbssr614, Global Academy of Training and Research (GATR) Enterprise.
    3. Fizaine, Florian, 2015. "Minor metals and organized markets: News highlights about the consequences of establishing a futures market in a thin market with a dual trading price system," Resources Policy, Elsevier, vol. 46(P2), pages 59-70.
    4. Hadachek, Jeffrey & Saitone, Tina L. & Sexton, Richard J. & Raszap Skorbiansky, Sharon & Thornsbury, Suzanne & Effland, Anne, 2022. "Organic Feed Grains and Livestock: Factors That Influence Outcomes in Thinly Traded Markets," USDA Miscellaneous 319355, United States Department of Agriculture.
    5. Hadachek, Jeffrey & Saitone, Tina L & Sexton, Richard J & Skorbiansky, Sharon Raszap & Thornsbury, Suzanne & Effland, Anne, 2022. "Organic Feed Grains and Livestock: Factors That Influence Outcomes in Thinly Traded Markets," Economic Research Report 327179, United States Department of Agriculture, Economic Research Service.
    6. Franken, Jason R.V. & Parcell, Joe L., 2012. "Evaluation of Market Thinness for Hogs and Pork," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 44(4), pages 461-475, November.

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    Keywords

    Agribusiness;

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