Agricultural Product Prices
Agricultural Product Prices clearly explains the conceptual and empirical models applicable to agricultural product markets and explains the behavior of agricultural product prices. This textbook also provides an in-depth discussion of prices established for futures contracts and their relationship to cash market prices; cover the influential roles of price discovery institutions, such as auctions and negotiated contracts, and government policies regulating trade and farms; and discuss the specification, use, and evaluation of empirical models of agricultural prices, placing emphasis on the challenges of doing high-quality, useful analyses and interpreting results.
"In its introduction, the book promises to provide an understanding of the complex arrays of forces that determine the level and behavior of prices and to assist students in bridging theories and empirical analysis on price behavior. It can undoubtedly be said that both promises have been realized in the book...The book's intuitive approach to explaining economic concepts makes it appealing for a wider audience in addition to graduate and undergraduate students. In light of the rise in the volatility of global food and agricultural products since 2007/2008, non-economists wishing to understand the basic mechanics of food price behavior could be interested in reading the book."
— Tsion Taye Assefa, European Review of Agricultural Economics
"As a comprehensive reference on agricultural price behaviour at an intermediate level, the book is a worthwhile resource. It is well written and clearly considers and clarifies the principles required to understand the operation of open-agricultural product markets. I recommend this book to students and practitioners alike."
— Stuart Mounter, Australian Journal of Agricultural and Resource Economics