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The notion of price efficiency is discussed in the context of an optimal information market. Approaches for assessing price or market efficiency are examined, including temporal, spatial, and form-transformation paradigms. The interdependent nature of these paradigms is stressed. Finally, a review is conducted of recent price efficiency research in cash, futures, and manufacturing-retailing markets. Research generally has paid inadequate attention to agents’ costs, including the cost of risk and the human capital cost of acquiring and evaluating information.

Subject(s): Demand and Price Analysis

Marketing

Issue Date: 1989-07

Publication Type: Journal Article

PURL Identifier: http://purl.umn.edu/32461 Published in: Western Journal of Agricultural Economics, Volume 14, Number 1 Page range: 111-121

Total Pages: 11

Record appears in: Western Agricultural Economics Association > Western Journal of Agricultural Economics





Autor: Buccola, Steven T.

Fuente: http://ageconsearch.umn.edu/record/32461?ln=en







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