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The Relevance of Economic Efficiency
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Agric agricultural marketing allocative efficiency alternative alternative exchange approach argues assumptions behavior buyers ciency commodity concepts consumers contestable market contracts decisions defined discussion distribution dynamic Econ economic efficiency economic surplus economies of scope economists effects effi efficiency analysis empirical evaluating example exchange mechanisms exist expected price firms food marketing forecast framework futures markets futures prices futures trading impact important income increase individual industry inefficiencies input issues literature marginal market structure marketing orders marketing system minimum quality standards multiproduct nomic norm optimal organization organizational output Pareto Pareto efficiency percent perfect competition perfect information performance criteria political preferences pricing efficiency problems productive efficiency programs rational expectations Rausser risk aversion role scope economies second-best sellers signal social welfare function Stiglitz stocks storage supply and demand theory tion transactions costs uncertainty USDA utility value of information variables welfare economics welfare measurement X-efficiency