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Market Performance: Concepts and Measures

Author

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  • Marion, Bruce W.
  • Handy, Charles R.

Abstract

The need exists for new criteria to reflect the qualitative as well as quantitative aspects of market performance. Also emphasized in the report is the multidimensional nature of performance. The U.S. Department of Agriculture and the Marketing Science Institute jointly sponsored a project to evaluate current market performance concepts and measures and develop new or improved ones. At this point, industrial organization theory provides the only analytical framework of market performance that is well developed and empirically tested. The structure of markets and their performance have been found to be related—but not in a linear fashion. Vertical market relationships need further analysis to expand on the few existing insights into market performance. Empirical and theoretical work have focused mainly on horizontal relationships. This report brings together several recent efforts to expand conceptual models of vertical market systems. Two new measures are presented: The value of retail exchange services and an Index of Consumer Satisfaction. These attempt to overcome the lack of attention given by existing measures to the level and distribution of consumer satisfaction with goods and services. Given the numerous and changing dimensions of market performance, and the narrow focus of most performance measures, a multidimensional information system on market performance needs to be set up. Such a system could provide greater continuity among the uses of existing performance measures, assimilate the findings of individual studies, and act as a catalyst for further examination of the factors influencing market performance.

Suggested Citation

  • Marion, Bruce W. & Handy, Charles R., 1973. "Market Performance: Concepts and Measures," Agricultural Economic Reports 307487, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerser:307487
    DOI: 10.22004/ag.econ.307487
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    Citations

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    Cited by:

    1. Gillian, Henry C., Jr., 1985. "Performance Of The Beef Cow-Calf Sector," Staff Reports 277776, United States Department of Agriculture, Economic Research Service.
    2. Knutson, Ronald D. & Smith, Edward G. & Richardson, James W. & Shirley, Christina, 0. "Maximizing Efficiency In Agriculture," Increasing Understanding of Public Problems and Policies, Farm Foundation.
    3. Helmberger, Peter G. & Campbell, Gerald R. & Dobson, William D., 1981. "PART IV. Organization and Performance of Agricultural Markets," AAEA Monographs, Agricultural and Applied Economics Association, number 337229, january.
    4. Gordon G. Bechtel, 1980. "A Scaling Model for Survey Monitoring," Evaluation Review, , vol. 4(1), pages 5-41, February.
    5. Simone Clemhout, 1974. "Assessment of consumer research for a valuation of a quality-of-life policy," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 1(3), pages 329-357, December.
    6. Benson, Verel W. & Witzig, Thomas J., 1977. "The Chicken Broiler Industry: Structure, Practices, and Costs," Agricultural Economic Reports 305699, United States Department of Agriculture, Economic Research Service.
    7. Funk, Thomas F. & Rice, Martin T., 1979. "The Impact of Marketing Boards on Agribusiness: The Case of the Ontario Broiler Industry," Working Papers 244737, University of Guelph, Department of Food, Agricultural and Resource Economics.
    8. Smith, I.R., 1981. "The economics of the milkfish fry and fingerling industry of the Philippines," Monographs, The WorldFish Center, number 12314, April.
    9. Henehan, Brian M. & Pelsue, Neil H., Jr., 1986. "The Use Of Discriminant Analysis In Measuring Cooperative Growth Factors," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 15(2), pages 1-7, October.

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