role of information in U.S. grain and oilseed markets

Transparency of information in economic (price) signals is the crux of the debate regarding institutional guidelines for grain and oilseed markets. Federal grades and standards guide the determination and discovery of price in the competitive (public) market. However, the increasing rate of market c...

Full description

Saved in:
Bibliographic Details
Published in:Applied economic perspectives and policy 1999, Vol.21 (1), p.237-255
Main Author: Jones, E
Format: Article
Language:English
Subjects:
Commentary
Crop economics
D830
Grains
Industrial agriculture
Industrial market
information needs
Market prices
markets
Oilseeds
Process engineering
Q110
Soybeans
Wheat
Wheat flour
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Transparency of information in economic (price) signals is the crux of the debate regarding institutional guidelines for grain and oilseed markets. Federal grades and standards guide the determination and discovery of price in the competitive (public) market. However, the increasing rate of market coordination is reflective of a widening information gap, which rent-seeking entrepreneurs are able to arbitrage into higher returns. Thus, the outcome of the debate will determine the direction and rate of change of U.S. grain-market structures as well as the degree to which market prices reflect the value of desired attributes.
ISSN:1058-7195
2040-5790
1467-9353
2040-5804
DOI:10.2307/1349983