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Volume 32, Number 01, April 2000 >
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|Title: ||SUPPLY AND DEMAND RISKS IN LABORATORY FORWARD AND SPOT MARKETS: IMPLICATIONS FOR AGRICULTURE|
|Authors: ||Menkhaus, Dale J.|
Bastian, Christopher T.
Phillips, Owen R.
O'Neill, Patrick D.
|Keywords: ||laboratory markets|
supply and/or demand risks
|Issue Date: ||2000-04|
|Abstract: ||Laboratory experimental methods are used to investigate the impacts of supply and/or demand risks on prices, quantities traded, and earnings within forward and spot market institutions. Random demand and/or supply shifts can be as much as 25 percent of the expected equilibrium outcome. Nevertheless, results suggest that the spot or forward trading institution itself has a greater influence on market outcomes than the presence of risk within the trading institutions. Sellers tend to have relatively higher earnings in a spot market than buyers, regardless of the risk. Total surplus, however, generally is greater in a forward market.|
|Institution/Association: ||Journal of Agricultural and Applied Economics>Volume 32, Number 01, April 2000|
|Total Pages: ||15|
|From Page: ||159|
|To Page: ||173|
|Collections:||Volume 32, Number 01, April 2000|
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