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The valuation of market information from livestock selling complexes[Note 1. The authors are grateful for the helpful comments of ...]
Author(s) -
Crase Lin,
Dollery Brian
Publication year - 1999
Publication title -
australian journal of agricultural and resource economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.683
H-Index - 49
eISSN - 1467-8489
pISSN - 1364-985X
DOI - 10.1111/1467-8489.00076
Subject(s) - common value auction , livestock , valuation (finance) , business , production (economics) , context (archaeology) , market value , value (mathematics) , public information , market price , industrial organization , microeconomics , marketing , economics , computer science , finance , geography , machine learning , internet privacy , archaeology , forestry
The efficient operation of livestock markets is contingent upon producers accessing relevant market information which assists adjustment to production and distribution. This article provides an analysis of the value of market information gleaned by producers attending public livestock auctions. The article uses the Travel Cost Method to quantify the value of this information and notes the limitations of applying the Travel Cost Method in this context.