Experimental Simulation Of Public Information Impacts On Price Discovery And Marketing Efficiency In The Fed Cattle Market
Federal budgetary pressures raise questions regarding the importance of public market information. This study assesses the impact of price discovery and production efficiency of reducing public price and quantity information. The amount and type of information provided to Fed Cattle Market Simulator (FCMS) participants was varied by periodically withholding current and weekly summary information according to a predetermined experimental design. Results show that reducing information increased price variance and decreased marketing efficiency; that is, more cattle were delivered at weights deviating from 1,150 pounds- the least-cost marketing weight in the simulator. These factors, which increase costs, make the industry less competitive.
Volume (Year): 23 (1998)
Issue (Month): 01 (July)
|Contact details of provider:|| Web page: http://waeaonline.org/|
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Jones, Rodney D. & Schroeder, Ted C. & Mintert, James R. & Brazle, Frank, 1992.
"The Impacts Of Quality On Cash Fed Cattle Prices,"
Southern Journal of Agricultural Economics,
Southern Agricultural Economics Association, vol. 24(02), December.
- Paul M. Patterson & B. Wade Brorsen, 1993. "USDA Export Sales Report: Is It News?," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 15(2), pages 367-378.
- repec:cdl:agrebk:666489 is not listed on IDEAS
- Nikolaos T. Milonas, 1987. "The effects of USDA crop announcements on commodity prices," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 7(5), pages 571-589, October.
- Rausser, Gordon C. & Perloff, Jeffrey M & Zusman, Pinhas, 1985. "The food marketing system: the relevance of economic efficiency measures," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt7361f847, Department of Agricultural & Resource Economics, UC Berkeley.
When requesting a correction, please mention this item's handle: RePEc:ags:jlaare:31170. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search)
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.