Since the seminal work of Adam Smith, markets have been considered an efficienttool for co-ordinating the behaviour of economic agents. The basic characteristicof a market economy is that the complex system of interaction amongindividuals is not centrally coordinated. Under the assumption of...

The long-run commercial viability of ethanol production depends on the ability to access an inexpensive and reliable supply of inputs as well as finding stable markets for ethanol and its co-products. A unique feature of ethanol plants is their position at the intersection of multiple supply...