Jung, Jinho; Sesmero, Juan; Siebert, Ralph - 2020
We estimate the cost of transporting corn and the resulting degree of spatial differentiation among downstream firms … traveled), which provides evidence of spatial differentiation among buyers. The estimated average markdown is $0.80 per bushel … (16% of the average corn price in the sample), of which $0.34 is explained by spatial differentiation and the rest by the …