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Measurement Of Grading Error Costs In The Beef Industry

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  • Ferrier, Peyton Michael

Abstract

This paper models the market for beef products when quality production is stochastic and quality information is asymmetric between producers and consumers. Independent sorters act as intermediaries to enhance market efficiency by guaranteeing minimum quality levels. Market shares, effort levels, prices, and quality standards are obtained for general market equilibrium.

Suggested Citation

  • Ferrier, Peyton Michael, 2002. "Measurement Of Grading Error Costs In The Beef Industry," 2002 Annual meeting, July 28-31, Long Beach, CA 19906, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea02:19906
    DOI: 10.22004/ag.econ.19906
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    File URL: https://ageconsearch.umn.edu/record/19906/files/sp02fe05.pdf
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    Cited by:

    1. John A. Miranowski & Bruce A. Babcock, 2004. "Genetic Information in Agricultural Productivity and Product Development," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(1), pages 73-87.

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    Keywords

    Marketing;

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