Abstract
This paper examines the use of market consultants and market information systems by grain and cotton producers. A model of producer demand for marketing information and consultants is proposed that decomposes price received into exogenous and endogenous components. The analysis is based on a survey of over 1,600 producers. The results suggest that expenditures on market information systems and market consultants are not independent and, more specifically, expenditures on marketing consultants substitute for expenditures on market information systems.
| Original language | English |
|---|---|
| Pages (from-to) | 167-183 |
| Number of pages | 17 |
| Journal | Journal of Agricultural and Resource Economics |
| Volume | 30 |
| Issue number | 1 |
| State | Published - Apr 2005 |
Keywords
- Expected utility
- Market information
- Marketing
- Risk
- Tobit