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A Comparison of Video Cattle Auction and Regional Market Prices
Author(s) -
Bailey DeeVon,
Peterson Monte C.,
Brorsen B. Wade
Publication year - 1991
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1242731
Subject(s) - common value auction , business , quality (philosophy) , multiunit auction , reverse auction , dutch auction , economics , agricultural economics , eauction , microeconomics , auction theory , revenue equivalence , philosophy , epistemology
The number of cattle sold through video auctions has increased substantially during the past five years. The nation's largest video cattle auction offered over 450,000 cattle for sale in 1988. This study compares price differences between the nation's largest satellite video cattle auction and three large regional auctions. Prices for both the regional and video auctions were adjusted for quality differences, transportation costs, commissions, and days to delivery. Net prices paid by buyers and received by sellers in video auctions exceeded the prices for three major regional auction markets.