농산물 도매가격 결정 방식에 관한 연구

A study on the Agricultural Wholesale Price Determination Process

This study sheds light on the appropriateness of the current price determination process and seeks for alternative pricing systems using the evaluation by the commission merchants at the Garak Agricultural Market. The merchants evaluate that the auction system is better than the negotiation transaction. This can be construed that the transaction costs of the negotiation transaction are higher than those of the auction system. The government’s effort to expand the negotiation transaction can cause several problems. We also have the merchants evaluate the three auction systems– the previously executed outcry auction, the current electronic bid auction, and a new electronic auction. The results show that the current electronic bid auction is mostly preferred. This seems mainly because they are the present practice. It has shown that the new electronic auction received relatively a lower level of preference. On the other hand the new system is preferred in terms of fairness and convenience of price determination process. Therefore it calls for further studies on feasibility in the future. In addition, the Dutch auction and the Vickrey auction were fairly appreciated despite no experience of them. We finally suggest several points with respect to the agricultural pricing system in the wholesale market.