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Assessing Accuracy of Livestock Market Reporters: Some Evidence on Pigs in Victoria

Author

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  • Alston, Julian M.
  • Nguyen, S.T.
  • Tunstall, Allan W.

Abstract

This paper explores the hypothesis that livestock market reporters tend to err towards the middle of the actual range when estimating carcass weight and fat depth. Trial data for pigs support the hypothesis and indicate that reporters' estimates may be significantly biased in some extreme weight and fat classes even when the average errors taken across all classes are trivial. Significant distortions in the reported premiums or discounts between some fat and weight classes are implied by the errors in estimating fat and weight.

Suggested Citation

  • Alston, Julian M. & Nguyen, S.T. & Tunstall, Allan W., 1986. "Assessing Accuracy of Livestock Market Reporters: Some Evidence on Pigs in Victoria," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 54(01), April.
  • Handle: RePEc:ags:remaae:12416
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    File URL: http://purl.umn.edu/12416
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    References listed on IDEAS

    as
    1. Naughtin, John C., 1980. "The Accuracy of Market Reporters in the Estimation of Carcass Weight and Fat Cover for Cattle," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 48(03), December.
    2. Naughtin, John C. & Holland, B.J., 1982. "The Accuracy of Market Reporters under Liveweight Selling Conditions," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 50(03), December.
    3. George J. Stigler, 1961. "The Economics of Information," Journal of Political Economy, University of Chicago Press, vol. 69, pages 213-213.
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    Keywords

    Land Economics/Use;

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