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Noisy vertical markets

Jha, Raghbendra; Nagarajan, Hari K


In vertical markets volatility at one level of the market may transmit itself to another level. This paper examines the linkages that exist between spreads at different levels of the market hierarchy in Indian rice markets. It highlights the behavior of spreads in the presence of information asymmetry. This causes spreads to overshoot their equilibrium values. Second, we model possible differences between the reaction to an upward revision of the spread from that to a downward revision. We...[Show more]

CollectionsANU Research Publications
Type: Working/Technical Paper
Source: Economic and Political Weekly


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