Economic theory suggests that demand behavior is time variant, but does not offer much insight into the nature of the temporal variation. For practical purposes, at least two interpretations regarding the time behavior of demand relationships may be advanced.
The paper presents the implications of farmer-owned processing cooperatives for pricing in the catfish industry and tests hypotheses about the nature of price transmission in the catfish industry. The results of the linear feedback model indicate that causal relationships exist between farm and wholesale prices in the catfish industry. The direction of causality for both frozen and processed whole catfish run from farm to wholesale level.
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