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Alternative Theories and Empirical Approaches to Price Discovery: An Application to Fed Cattle

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  • Carlberg, Jared G.
  • Ward, Clement E.

Abstract

Price discovery is a frequent topic of research, but many times is not clearly defined and thus purported to cover a myriad of topics. This article provides two alternative theories as the basis for one line of price discovery research. Empirical models consistent with the two theories are estimated using a common data set. Empirical results differ as expected. This article evidences why the theoretical basis for an empirical model depends on clearly defining the objective(s) of the research.

Suggested Citation

  • Carlberg, Jared G. & Ward, Clement E., 2003. "Alternative Theories and Empirical Approaches to Price Discovery: An Application to Fed Cattle," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 35(3), pages 649-661, December.
    • Handle: RePEc:cup:jagaec:v:35:y:2003:i:03:p:649-661_02
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    Cited by:

    1. Ward, Clement E., 2005. "Supply Effects on Price Discovery and Pricing Choice for Fed Cattle," 2005 Conference, April 18-19, 2005, St. Louis, Missouri 19034, NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    2. Jerzy Rembeza & Kamila Radlińska, 2020. "Price Linkages Between Tea Markets: A Case Study for Colombo, Kolkata and Mombasa Auctions," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 134-150.
    3. Hornung, Jonathan T. & Ward, Clement E., 2005. "Positive Market Effects from a Meatpacking Plant Opening: Perceptions and Reality," CAFRI: Current Agriculture, Food and Resource Issues, Canadian Agricultural Economics Society, issue 6, pages 1-10, March.

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