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Implementation of Electronic Marketing of Slaughter Cattle in Virginia: Requirements and Procedures

Published online by Cambridge University Press:  28 April 2015

James R. Russell  and
Wayne D. Purcell
James R. Russell
Affiliation:
Department of Agricultural Economics, Virginia Polytechnic Institute and State University
Wayne D. Purcell
Affiliation:
Department of Agricultural Economics, Virginia Polytechnic Institute and State University
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Extract

Increased attention is being directed to electronic markets in the major agricultural commodities. Electronic markets are characterized by a trading arena that has been centralized via some electronic medium. The medium used may be a conference telephone, teletype, computer system, or some combination of these or other mechanisms. All make possible the sale of a commodity by description without requiring the physical proximity of buyer, seller, and product. In theory, this capability can eliminate or reduce the spatial imperfections and pricing problems now present in many “thin” markets, a topic of increasing concern throughout the food industry (Hayenga).

Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 12 , Issue 1 , July 1980 , pp. 77 - 84
Copyright
Copyright © Southern Agricultural Economics Association 1980

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