In this paper we try to analyse market efficiency during the Seleucid and Parthian era in the Babylonian Empire. We find that prices in Babylon were less correlated with those in Rome than of most other regions around the Mediterranean. This suggests that Rome was indeed the urban centre of the...

Recent research has shown early economies to exhibit market behavior by using institutions that reduce price volatility. In this paper we focus on storage as a price stabilizing strategy in Babylon using a recent dataset with agricultural prices for the Late Achaemenid and Hellenistic periods...