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Cost Structures in Livestock Auction Markets: Average Versus Optimal Efficiency

Published online by Cambridge University Press:  10 May 2017

Steven T. Buccola  and
Leonard M. Polishuk
Steven T. Buccola
Affiliation:
Department of Agricultural Economics, Virginia Polytechnic Institute and State University, Blacksburg
Leonard M. Polishuk
Affiliation:
Department of Agricultural Economics, Virginia Polytechnic Institute and State University, Blacksburg
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Extract

The central role that local auction facilities play in the marketing of feeder, and in some areas slaughter, livestock has resulted in a large volume of literature relating auction costs to auction volume or size. Most auction cost studies have been based on statistical analyses of market accounting costs, although several have been based on synthetic construction of technically efficient market facility models. Studies of the former type include those by Lindberg and Judge (Oklahoma) and Wilson and Kuehn (West Virginia). Examples of the latter type are studies by Gibb and Riley (Michigan) and Kuehn (West Virginia).

Type
Contributed Papers
Information
Journal of the Northeastern Agricultural Economics Council , Volume 8 , Issue 2 , October 1979 , pp. 211 - 219
Copyright
Copyright © Northeastern Agricultural and Resource Economics Association 

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References

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