ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Noisy Vertical Markets

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, and highlights the behaviour of spreads in the presence of information asymmetry. The paper also models possible differences between the reaction to an upward revision of the spread from that to a downward revision.

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