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Analyzing the pricing efficiency in spatial markets: Concept and application

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  • SANJEEV GUPTA
  • ROLF A.E. MUELLER

Abstract

In this paper a technique is suggested for analyzing the price relationships between regional markets which avoids the ambiguity of the correlation coefficient. The method is based on Fama's concept of pricing efficiency and consists of tests included under the heading Granger Causality. The method is applied to price series from three regional markets for slaughter hogs in West Germany. The paper concludes with an evaluation of the suggested method.

Suggested Citation

  • Sanjeev Gupta & Rolf A.E. Mueller, 1982. "Analyzing the pricing efficiency in spatial markets: Concept and application," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 9(3), pages 301-312.
    • Handle: RePEc:oup:erevae:v:9:y:1982:i:3:p:301-312.
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    File URL: http://hdl.handle.net/10.1093/erae/9.3.301
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    Cited by:

    1. Tadesse Kuma Worako, 2016. "Transactions Costs and Spatial Integration of Vegetable and Fruit Market in Ethiopia," Ethiopian Journal of Economics, Ethiopian Economics Association, vol. 24(1), April.
    2. Von Cramon-Taubadel, Stephan, 2017. "The analysis of market integration and price transmission – results and implications in an African context," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 56(2), March.
    3. Stephan von Cramon-Taubadel, 2017. "The analysis of market integration and price transmission – results and implications in an African context," Agrekon, Taylor & Francis Journals, vol. 56(2), pages 83-96, April.
    4. Ana I. Sanjuan & Jose M. Gil, 1998. "Price transmission analysis: A flexible methodological approach applied to European hog markets," ERSA conference papers ersa98p180, European Regional Science Association.
    5. Giulia LISTORTI, 2008. "Price Transmission Mechanisms: a Policy Investigation of International Wheat Markets," Working Papers 318, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    6. Muhamed, Zainal Abidin & arshad, fatimah, 1996. "Marketing of Pigs in Malaysia: An Evaluation of Market Integration," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 30, pages 105-124.
    7. Daniel Berkowitz & David DeJong & Steven Husted, 1997. "Transition in Russia: It's Happening," William Davidson Institute Working Papers Series 33, William Davidson Institute at the University of Michigan.

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