Frontier Market Transaction Costs and Diversfication

2011 ◽  
Author(s):  
Ben R. Marshall ◽  
Nhut H. Nguyen ◽  
Nuttawat Visaltanachoti
Keyword(s):  
Transaction Costs ◽  
Market Transaction

scholarly journals   Study on Chinese farmer cooperative economy organization and agricultural specialization

2012 ◽  
Vol 58 (No. 3) ◽  
pp. 135-146 ◽  
Author(s):  
D. Yang ◽  
Z. Liu
Keyword(s):  
Transaction Costs ◽  
Agricultural Production ◽  
Division Of Labour ◽  
Agricultural Enterprises ◽  
Classical Economics ◽  
Internal Mechanism ◽  
Market Transaction ◽  
Economics Model ◽  
Responsibility System ◽  
Cooperative Economy

 Under the background of the Chinese Household Contract Responsibility System (HCRS), farmers have to pay higher transaction costs and encounter a huge trading risk if they engage in agricultural production only through the market transaction. Since the special properties of agricultural production limit the formation and development of agricultural enterprises, farmer cooperative economy organizations with the main functional characteristics of transaction coordination begin to flourish. By building a new classical economics model, this paper demonstrates the theoretical assertion that the generation of a farmer cooperative economy organization is accompanied by the evolution of the division of labour, the improvement of farmers’ effectiveness and the development of agricultural specialization. Furthermore, this paper does an empirical analysis with the micro-survey data to verify this theoretical assertion. Therefore, this article effectively explains the generation condition of a farmer cooperative economy organization and the internal mechanism of how it promotes the development of agricultural specialization. So this paper provides a strong theoretical and practical evidence for the development of a farmer cooperative economy organization and agricultural specialization.    

scholarly journals Will Southern Agriculture Play a Role in a Carbon Market?

2000 ◽  
Vol 32 (2) ◽  
pp. 235-248 ◽  
Author(s):  
Kimberly A. Zeuli ◽  
Jerry R. Skees
Keyword(s):  
Land Use ◽  
Transaction Costs ◽  
Regional Differences ◽  
Conservation Tillage ◽  
Carbon Market ◽  
Institutional Arrangements ◽  
Perverse Incentives ◽  
Market Transaction ◽  
The Government ◽  
The Right

AbstractWhile a carbon market offers substantial opportunities for US agriculture, regional differences in such a market are often ignored. This paper focuses on the advantages and challenges for agriculture in the South. The potential of two promising options are analyzed: conversion from cropland to forests and greater use of conservation tillage. It is argued that the right institutional arrangements can overcome three fundamental challenges to an efficient carbon market: transaction costs, risk, and perverse incentives. Some examples are given, such as the use of a farmer-owned organization and the provision of land use and carbon information by the government.

Legal Change and Water Market Transaction Costs in Colorado

2020 ◽  
Vol 56 (4) ◽  
Author(s):  
Philip Womble ◽  
W. Michael Hanemann
Keyword(s):  
Transaction Costs ◽  
Water Market ◽  
Legal Change ◽  
Market Transaction

Spatial Labor Markets and the Distribution of Transaction Costs

1983 ◽  
Vol 1 (3) ◽  
pp. 305-322 ◽  
Author(s):  
G L Clark
Keyword(s):  
Transaction Costs ◽  
Labor Markets ◽  
Exchange Process ◽  
Labor Demand ◽  
Job Matching ◽  
Demand And Supply ◽  
Legal Case ◽  
Inadequate Information ◽  
Job Offers ◽  
Market Transaction

Incomplete information regarding the location of job offers, their contractual conditions, and tenure prospects typifies US labor markets. Crises of spatial coordination and the allocation of labor demand and supply, amongst other issues, are argued to result from such uncertainties. Assisted-mobility and spatial job-matching programs have been promoted as solutions to problems of inadequate information. These programs, however, ignore the fact that uncertainty is part of any rule-oriented exchange process. These programs also neglect the power relations between employers and employees which structure and sustain labor-market transaction costs. The crucial issue is the distribution of transaction costs between contracting parties. These principles are applied to a recent legal case in Michigan involving interregional labor migration.

Emerging market transaction costs: Evidence from Indonesia

1999 ◽  
Vol 7 (2) ◽  
pp. 103-127 ◽  
Author(s):  
Catherine Bonser-Neal ◽  
David Linnan ◽  
Robert Neal
Keyword(s):  
Transaction Costs ◽  
Emerging Market ◽  
Market Transaction

scholarly journals Transaction costs and market thinness in crop byproduct markets

2017 ◽  
Author(s):  
◽  
Bryce Nicholas Bock
Keyword(s):  
Transaction Costs ◽  
Soybean Meal ◽  
Information Technologies ◽  
Distillers Grains With Solubles ◽  
Dried Distillers Grains ◽  
Wheat Middlings ◽  
Thin Market ◽  
Market Transaction ◽  
Gluten Feed ◽  
Cost Implications

Studies in crop byproduct literature have looked more at the nutrient impacts, rather than analytical cost implications of crop byproducts in livestock feed rations. Thin market studies stated the lack of product volume and player count in a market leads to transaction costs such as low market information, which leads to poor liquidity and inaccurate price discovery. This study compares the byproduct markets of dried distillers grains with solubles (DDGS), corn gluten feed (CGF), wheat middlings, soybean hulls, and rice bran, and the more mainstream feed options of corn and soybean meal (SBM). Through a series of interview responses, Chebyshev's inequality calculations, and regression work, this thesis addresses questions on crop byproduct market transaction costs, market size, contracting habits, and price influences. The thesis findings indicate that as markets thin, contracting frequency and substitute product purchasing increase, with byproduct prices shaped by the prices of corn, soybean meal, and substitute byproduct feed ingredients. In addition, this thesis finds that efficient handling and information technologies most effectively manage the transaction costs stemming from critical nutrient, transportation, storage, consistency, and compatibility issues in crop byproduct transactions.

Law and the Economy: An Introduction to Coasian Law and Economics

2018 ◽  
Vol 5 (2) ◽  
Author(s):  
Ning Wang
Keyword(s):  
Institutional Change ◽  
Transaction Costs ◽  
Market Economy ◽  
Research Program ◽  
Law And Economics ◽  
Economic Analysis Of Law ◽  
Founding Father ◽  
Market Transaction ◽  
Alternative Research ◽  
The Law

Abstract Ronald Coase was a founding father of modern law and economics. Yet, Coase distanced himself from the economic analysis of law, which today dominates the law and economics scholarship, and proposed an alternative research program, which is referred to here as “law and the economy”. As market transaction presumes the delineation of rights, which are primarily defined and enforced by law, law obviously anchors the foundation of a market economy. Moreover, changes in the legal system are a main source of institutional change that reassigns rights and redraws constraints under which rights are exercised, thus fundamentally affecting transaction costs and how the economy works. “Law and the economy” recognizes the law as an integral part of the economy and calls for the study of the economic impact of law.

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