Optimization of individual stages within a production-marketing chain (PMCh) may cause a suboptimal result of the PMCh as a whole. Market imperfections and conflicting interest may be the causal factors. Although vertical integration is often mentioned as the conventional solution, certain...

ABSTRACT This paper reviews the literature on price volatility transmission in vertical food markets. The methods and major findings of the literature are discussed and avenues for future research are suggested. The literature review shows that price volatility is analyzed using a class of...