文章基本信息

标题：The Value of Third-Party Certification of Preconditioning Claims at Iowa Feeder Cattle Auctions
本地全文：下载
作者：Bulut, Harun ; Lawrence, John D.
期刊名称：Journal of Food Distribution Research
印刷版ISSN：0047-245X
出版年度：2007
卷号：38
期号：12
页码：625-640
出版社：Food Distribution Research Society
摘要：After controlling a variety of feeder cattle characteristics and market and sale conditions in Iowa feeder auctions, the price premiums for preconditioning claims (vaccinations and minimum 30 days of weaning) with and without third-party certification (TPC) are estimated as $6.12/cwt and $3.35/cwt, respectively. These premiums differ statistically (p<0.0001), and their difference exceeds the average participation cost of TPC ($1/cwt). This indicates that TPC is valued in the market to credibly signal preconditioning investment under asymmetric information.
关键词：asymmetric information;feeder cattle auctions;quality;signalling;third-party certification