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Agricultural Product Prices

Agricultural Product Prices - 4th edition

ISBN13: 978-0801440939

Cover of Agricultural Product Prices 4TH 03 (ISBN 978-0801440939)
ISBN13: 978-0801440939
ISBN10: 0801440939
Cover type: Hardback
Edition/Copyright: 4TH 03
Publisher: Cornell University Press
Published: 2003
International: No

List price: $49.95

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Agricultural Product Prices - 4TH 03 edition

ISBN13: 978-0801440939

William G. Tomek and Kenneth Leon Robinson

ISBN13: 978-0801440939
ISBN10: 0801440939
Cover type: Hardback
Edition/Copyright: 4TH 03
Publisher: Cornell University Press

Published: 2003
International: No
Summary

"In an excellent synthesis of theory and measurement as they relate to agricultural prices, William G. Tomek and Kenneth L. Robinson set out principles for understanding the operation of markets for agricultural products. This heavily revised and updated edition of a classic in the field applies microeconomic theory to the operation of agricultural product markets, covering the distinctive features of their supply and demand and of the pricing institutions (such as auctions and futures markets) through which economic forces affect commodity prices." The book addresses four central topics: principles of price determination; price differences and variability; pricing institutions; and empirical price analysis. Numerous charts, graphs, and tables illustrate the authors' points throughout. The fourth edition of Agricultural Product Prices brings its subject into the twenty-first century with information and insights that can be applied to agricultural markets worldwide.

Table of Contents

Preface to the Fourth Edition
Preface to the Third Edition
Preface to the Second Edition
Preface to the First Edition
1. Introduction

Part I. Principles of Price Determination

2. Demand for Agricultural Products
3. Demand Elasticities and Related Coefficients
4. Supply Relationship in Agriculture
Product Prices, Factor Prices, and Factor Use
5. Price Determination: Theory and Practice
Price Discrimination

Part II. Price Differences and Variability

6. Marketing Margins
Marketing Margin Model
7. Price Differences Associated with Quality

8. Spatial Price Relationships
A Simple Spatial Equilibrium Model
9. Price Variation through Time

I Simple Seasonal Model
II An Elementary Cobweb Model

10. General Farm-Nonfarm Price Relationships
Price Indexes

Part III. Pricing Institutions

11. Mechanisms for Discovering Prices
Tariffs and Prices
12. Price Relationships on Commodity Futures Markets
13. Functions of Commodity Futures Markets
Optimal Hedges

Part IV. Introduction to Empirical Price Analysis

14. Background for Price Analysis
Modeling the Variance of Prices
15. Using and Evaluating Results
Appraising Turning-Point Errors

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