The dynamic relationship between daily cash and futures prices is investigated using time series analysis. The procedure involves causality tests between the two price series. The results show that futures price movements lead cash prices, implying that prices are discovered in the futures market.

The notion of price efficiency is discussed in the context of an optimal information market. Approaches for assessing price or market efficiency are examined, including temporal, spatial, and form-transformation paradigms. The interdependent nature of these paradigms is stressed. Finally, a...

Raw product prices for many processed fruits and vegetables are determined in part as an outcome of negotiations between processors and farmer bargaining associations. In such cases, unique market equilibrium solutions may not exist. This study develops a framework for price prediction under...

Two different methods of incorporating advertising effects into Almost Ideal Demand Systems (AIDS) are presented. Both advertising schemes are designed to allow theoretical restrictions to hold globally rather than at particular sample points. The models are estimated for California figs,...

The lead-lag relationships present in the regional price discovery process are important indicators of market performance. Differences across markets in the speed of adjustment to evolving information may have implications for pricing efficiency within these markets. This study estimates...

The study uses primary data collected from a survey conducted in Georgia to analyze consumer preferences for testing and certification of fresh produce and consumers' willingness to pay for fresh produce that is certified as free of pesticide residues (FPR). An ordered probit model was estimated...

A dynamic system of cost-share equations for agricultural inputs is used to test for the presence of input disequilibrium. This dynamic system incorporates a disequilibrium adjustment process into input-share equations derived from a translog cost function. The disequilibrium process is...

This paper examines the economic impact of the 1979 labor strike against lettuce producer-shippers in the Imperial Valley of California. The theory presented suggests that formidable problems are encountered by agricultural labor unions in obtaining higher wages for farm workers. During the 1979...