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| Williams, Christine H.; Bewley, Ronald A.. |
| In a competitive market with free information flows, spatial arbitrage will ensure that average prices at geographically separate markets will move in unison. The speed of adjustment is related to information flows between markets; if adjustment lags exist, there may be opportunities for arbitragers to gain. The transmission of price information is modelled using Johansen's procedure and the existence of long-run arbitrage opportunities is investigated. An innovation analysis is used to examine the varying responses to changes in prices at spatially separate markets. |
| Tipo: Journal Article |
Palavras-chave: Marketing. |
| Ano: 1993 |
URL: http://purl.umn.edu/22381 |
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| Williams, Christine H.; Rolfe, John; Longworth, John W.. |
| The Queensland Livestock Market Reporting Service (QLMRS) was established in 1980 by the livestock and Meat Authority of Queensland. Weekly reports on the major live cattle auctions in Queensland indicate the prices of different types of cattle, categorised by their age, sex, weight, fat score and type of feed. Previous research has suggested that differences in these characteristics account for only some of the price variation observed at cattle auctions. This paper investigates other characteristics not included in the QLMRS market reports which may be important in determining the price of cattle. Data on the standard QLMRS characteristics and on other potentially important characteristics have been collected by the authors for a large number of lots of... |
| Tipo: Journal Article |
Palavras-chave: Livestock Production/Industries. |
| Ano: 1993 |
URL: http://purl.umn.edu/9596 |
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