Uncertain and changing economic conditions can have substantial effects on price relationships in spatially separated, linked markets. Although numerous studies have analysed price relationships to characterize market linkage structures, most assume that the relationships and associated linkages...

Demand analysis requires aggregation of commodities. Some are imposed at the data collection level, leaving some for the estimation level. When data are collected, the implicit assumption underlying the aggregation is perfect substitutability: one gallon of gasoline is viewed by consumers as...