Agricultural Economics Department

 

Date of this Version

April 2005

Comments

Published in Journal of Agricultural and Resource Economics 30(1): 167-183. Copyright 2005 Western Agricultural Economics Association. Used by permission.

Abstract

This paper examines the use of market consultants and market information systems by grain and cotton producers. A model of producer demand for marketing information and consultants is proposed that decomposes price received into exogenous and endogenous components. The analysis is based on a survey of over 1,600 producers. The results suggest that expenditures on market information systems and market consultants are not independent and, more specifically, expenditures on marketing consultants substitute for expenditures on market information systems.