On information and market dynamics: The
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Jean-Paul Chavas
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Article
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2000
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Elsevier Science
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English
β 581 KB
The paper investigates the nature of dynamic prices and expectations in a competitive market. The approach is applied to the U.S. beef market, which exhibits cyclical patterns and signi"cant biological lags in the production process. Beef price equations are estimated under di!erent expectation regi