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Cash Market Tests of the Weak Form Efficient Market Hypothesis

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Listed:
  • Cox, Linda
  • Sporleder, Thomas L.
  • Chavas, Jean-Paul

Abstract

The efficient market hypothesis can have important policy implications concerning the quantity and quality of market information publicly provided on agricultural commodity markets. This study explores appropriate methodology and some empirical tests of the weak form efficient market hypothesis applied to cash markets, rather than to commodity futures markets.

Suggested Citation

  • Cox, Linda & Sporleder, Thomas L. & Chavas, Jean-Paul, 1982. "Cash Market Tests of the Weak Form Efficient Market Hypothesis," 1982 Annual Meeting, August 1-4, Logan, Utah 279133, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea82:279133
    DOI: 10.22004/ag.econ.279133
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    References listed on IDEAS

    as
    1. K. L. Robinson, 1975. "Unstable Farm Prices: Economic Consequences and Policy Options," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 57(5), pages 769-777.
    2. Leuthold, Raymond M, 1972. "Random Walk and Price Trends: The Live Cattle Futures Market," Journal of Finance, American Finance Association, vol. 27(4), pages 879-889, September.
    3. Fama, Eugene F, 1970. "Efficient Capital Markets: A Review of Theory and Empirical Work," Journal of Finance, American Finance Association, vol. 25(2), pages 383-417, May.
    4. Robinson, K.L., 1975. "Unstable Farm Prices: Economic Consequences and Policy Options," 1975 Annual Meeting, August 10-13, Columbus, Ohio 284106, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    5. Stevenson, Richard A & Bear, Robert M, 1970. "Commodity Futures: Trends or Random Walks?," Journal of Finance, American Finance Association, vol. 25(1), pages 65-81, March.
    6. Cargill, Thomas F & Rausser, Gordon C, 1975. "Temporal Price Behavior in Commodity Futures Markets," Journal of Finance, American Finance Association, vol. 30(4), pages 1043-1053, September.
    Full references (including those not matched with items on IDEAS)

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    Keywords

    Agricultural and Food Policy; Marketing;

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