Document Type

Article

Journal/Book Title/Conference

Economics Research Institute Study Paper

Volume

25

Publisher

Utah State University Department of Economics

Publication Date

1997

Rights

Copyright for this work is held by the author. Transmission or reproduction of materials protected by copyright beyond that allowed by fair use requires the written permission of the copyright owners. Works not in the public domain cannot be commercially exploited without permission of the copyright owner. Responsibility for any use rests exclusively with the user. For more information contact the Institutional Repository Librarian at digitalcommons@usu.edu.

First Page

1

Last Page

31

Abstract

Theoretical price distributions and their implications for efficient and inefficient primary and retail markets are outlined. Utilizing time series data from Cattle-Fax, an empirical investigation for twelve primary markets of six cattle classes encompassing nineteen states is carried out. The empirical results indicated that the primary cattle markets were characterized by negatively skewed but peaked price distributions implying monopsonistically competitive price equilibria over time, regardless of the cattle class and region. The market structure was influenced by availability of price information, the type of cattle, weight, and geographical location.

Download

Share

COinS