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Estimating the Benefits from Improved Market Information

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Author Info
Kizito, Andrew
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.

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File URL: http://purl.umn.edu/48844
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Publisher Info
Paper provided by Michigan State University, Department of Agricultural, Food, and Resource Economics in its series Graduate Research Masters Degree Plan B Papers with number 48844.

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Date of creation: 2009
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Handle: RePEc:ags:midagr:48844

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Keywords: Marketing;

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  1. Dembele, Niama Nango & Staatz, John M., 1999. "The Response Of Cereals Traders To Agricultural Market Reform In Mali," Staff Papers 11476, Michigan State University, Department of Agricultural, Food, and Resource Economics. [Downloadable!]
  2. Dembele, Niama Nango & Staatz, John M., 1999. "The Impact Of Market Reform On Agricultural Transformation In Mali," Staff Papers 11717, Michigan State University, Department of Agricultural, Food, and Resource Economics. [Downloadable!]
  3. Dembele, Niama Nango & Staatz, John M. & Weber, Michael T., 2003. "Impact of the Malian Cereals Market Reform Program on Farmers," Food Security III Papers 11418, Michigan State University, Department of Agricultural, Food, and Resource Economics. [Downloadable!]
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