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Local Market Information Services in the Strategy of Agricultural Development

Published online by Cambridge University Press:  28 April 2015

Eldon D. Smith ,
Nguen Srisuruksa  and
Perry Phillipp
Eldon D. Smith
Affiliation:
University of Kentucky
Nguen Srisuruksa
Affiliation:
Thailand
Perry Phillipp
Affiliation:
University of Hawaii
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Extract

The general economic functions of market information are familiar and can be logically related to the concepts of workable competition and the perfect market in space, form, and time. However, the importance of a formal market news service to the efficiency of performance of markets must be viewed within the context of the particular situation and the manner in which present information systems function. Wherever there is a market, an information network exists, even though (in some cases), slow, inaccurate, discriminatory in its availability to market participants or limited in the scope of information collected and diffused. Therefore, in assessing the need for introducing or expanding formal market news services, the adequacy of the present system, the cost of effecting improvements and the consequences that may be derived from them must be determined and evaluated.

Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 3 , Issue 1 , December 1971 , pp. 59 - 67
Copyright
Copyright © Southern Agricultural Economics Association 1971

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