Abstract
This paper applies the concepts of structural models of markets, market integration, and market discontinuity to show that discontinuous markets alter the integration characteristics of continuous markets. When analyzing systems of contiguous markets, some of which are discontinuous, it appears that the continuous markets are less well integrated when the discontinuous markets are operating than when they are not operating.
Original language | English (US) |
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Pages (from-to) | 469-479 |
Number of pages | 11 |
Journal | American Journal of Agricultural Economics |
Volume | 74 |
Issue number | 2 |
DOIs | |
State | Published - May 1992 |
Keywords
- Alfalfa hay
- Continuous markets
- Discontinuous markets
- Integration tests
- Spatial market integration
ASJC Scopus subject areas
- Agricultural and Biological Sciences (miscellaneous)
- Economics and Econometrics