{"id":"https://openalex.org/W2059568153","doi":"https://doi.org/10.1080/758532403","title":"An examination of the necessary and sufJicient conditions for market eflciency: the case of hogs","display_name":"An examination of the necessary and sufJicient conditions for market eflciency: the case of hogs","publication_year":1989,"publication_date":"1989-01-01","ids":{"openalex":"https://openalex.org/W2059568153","doi":"https://doi.org/10.1080/758532403","mag":"2059568153"},"language":"en","primary_location":{"id":"doi:10.1080/758532403","doi":"https://doi.org/10.1080/758532403","is_oa":false,"landing_page_url":"https://doi.org/10.1080/758532403","pdf_url":null,"source":{"id":"https://openalex.org/S201533460","display_name":"Applied Economics","issn_l":"0003-6846","issn":["0003-6846","1466-4283"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-40","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Applied Economics","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5044584966","display_name":"Raymond M. Leuthold","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I157725225","display_name":"University of Illinois Urbana-Champaign","ror":"https://ror.org/047426m28","country_code":"US","type":"education","lineage":["https://openalex.org/I157725225"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Raymond M. Leuthold","raw_affiliation_strings":["a   Department ofAgricultura1 Economics , University of Illinois , Urbana-Champaign,  Urbana ,  IL ,  61801 ,  USA","Department ofAgricultura1 Economics , University of Illinois , Urbana-Champaign, Urbana , IL , 61801 , USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"a   Department ofAgricultura1 Economics , University of Illinois , Urbana-Champaign,  Urbana ,  IL ,  61801 ,  USA","institution_ids":["https://openalex.org/I157725225"]},{"raw_affiliation_string":"Department ofAgricultura1 Economics , University of Illinois , Urbana-Champaign, Urbana , IL , 61801 , USA","institution_ids":["https://openalex.org/I157725225"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5105985437","display_name":"Philip Garcia","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I157725225","display_name":"University of Illinois Urbana-Champaign","ror":"https://ror.org/047426m28","country_code":"US","type":"education","lineage":["https://openalex.org/I157725225"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Philip Garcia","raw_affiliation_strings":["a   Department ofAgricultura1 Economics , University of Illinois , Urbana-Champaign,  Urbana ,  IL ,  61801 ,  USA","Department ofAgricultura1 Economics , University of Illinois , Urbana-Champaign, Urbana , IL , 61801 , USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"a   Department ofAgricultura1 Economics , University of Illinois , Urbana-Champaign,  Urbana ,  IL ,  61801 ,  USA","institution_ids":["https://openalex.org/I157725225"]},{"raw_affiliation_string":"Department ofAgricultura1 Economics , University of Illinois , Urbana-Champaign, Urbana , IL , 61801 , USA","institution_ids":["https://openalex.org/I157725225"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5014241346","display_name":"Brian D. Adam","orcid":"https://orcid.org/0000-0002-5430-0880","observed_orcids":["https://orcid.org/0000-0002-5430-0880"]},"institutions":[{"id":"https://openalex.org/I157725225","display_name":"University of Illinois Urbana-Champaign","ror":"https://ror.org/047426m28","country_code":"US","type":"education","lineage":["https://openalex.org/I157725225"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Brian D. Adam","raw_affiliation_strings":["a   Department ofAgricultura1 Economics , University of Illinois , Urbana-Champaign,  Urbana ,  IL ,  61801 ,  USA","Department ofAgricultura1 Economics , University of Illinois , Urbana-Champaign, Urbana , IL , 61801 , USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"a   Department ofAgricultura1 Economics , University of Illinois , Urbana-Champaign,  Urbana ,  IL ,  61801 ,  USA","institution_ids":["https://openalex.org/I157725225"]},{"raw_affiliation_string":"Department ofAgricultura1 Economics , University of Illinois , Urbana-Champaign, Urbana , IL , 61801 , USA","institution_ids":["https://openalex.org/I157725225"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5052240901","display_name":"Wayne I. Park","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I157725225","display_name":"University of Illinois Urbana-Champaign","ror":"https://ror.org/047426m28","country_code":"US","type":"education","lineage":["https://openalex.org/I157725225"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Wayne I. Park","raw_affiliation_strings":["a   Department ofAgricultura1 Economics , University of Illinois , Urbana-Champaign,  Urbana ,  IL ,  61801 ,  USA","Department ofAgricultura1 Economics , University of Illinois , Urbana-Champaign, Urbana , IL , 61801 , USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"a   Department ofAgricultura1 Economics , University of Illinois , Urbana-Champaign,  Urbana ,  IL ,  61801 ,  USA","institution_ids":["https://openalex.org/I157725225"]},{"raw_affiliation_string":"Department ofAgricultura1 Economics , University of Illinois , Urbana-Champaign, Urbana , IL , 61801 , USA","institution_ids":["https://openalex.org/I157725225"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I157725225"],"apc_list":null,"apc_paid":null,"fwci":2.924,"has_fulltext":false,"cited_by_count":20,"citation_normalized_percentile":{"value":0.91452846,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":94},"biblio":{"volume":"21","issue":"2","first_page":"193","last_page":"204"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9717000126838684,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9717000126838684,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11918","display_name":"Forecasting Techniques and Applications","score":0.006399999838322401,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11898","display_name":"Economics of Agriculture and Food Markets","score":0.00570000009611249,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/market-efficiency","display_name":"market efficiency","score":0.9639999866485596},{"id":"https://openalex.org/keywords/necessary-and-sufficient-conditions","display_name":"necessary and sufficient conditions","score":0.6589999794960022},{"id":"https://openalex.org/keywords/pricing-efficiency","display_name":"pricing efficiency","score":0.5830000042915344},{"id":"https://openalex.org/keywords/out-of-sample-forecasting","display_name":"out-of-sample forecasting","score":0.7369999885559082},{"id":"https://openalex.org/keywords/arima-model","display_name":"ARIMA model","score":0.8309999704360962},{"id":"https://openalex.org/keywords/forward-prices","display_name":"forward prices","score":0.7860000133514404},{"id":"https://openalex.org/keywords/trading-strategies","display_name":"trading strategies","score":0.7120000123977661},{"id":"https://openalex.org/keywords/hog-prices","display_name":"hog prices","score":0.4359999895095825}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.722599446773529},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.4878661632537842},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.4107237458229065},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.3240252137184143}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1080/758532403","doi":"https://doi.org/10.1080/758532403","is_oa":false,"landing_page_url":"https://doi.org/10.1080/758532403","pdf_url":null,"source":{"id":"https://openalex.org/S201533460","display_name":"Applied Economics","issn_l":"0003-6846","issn":["0003-6846","1466-4283"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-40","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Applied Economics","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[{"score":0.6735000014305115,"id":"https://metadata.un.org/sdg/2","display_name":"Zero hunger"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":44,"referenced_works":["https://openalex.org/W562066469","https://openalex.org/W637849112","https://openalex.org/W1485169789","https://openalex.org/W1515758695","https://openalex.org/W1536006201","https://openalex.org/W1966366456","https://openalex.org/W1980207839","https://openalex.org/W1983666828","https://openalex.org/W1993332978","https://openalex.org/W1998043659","https://openalex.org/W2000940991","https://openalex.org/W2003264697","https://openalex.org/W2010160318","https://openalex.org/W2010794436","https://openalex.org/W2013096404","https://openalex.org/W2030459755","https://openalex.org/W2042798520","https://openalex.org/W2053594870","https://openalex.org/W2055652485","https://openalex.org/W2060955526","https://openalex.org/W2067483963","https://openalex.org/W2070205301","https://openalex.org/W2074216191","https://openalex.org/W2082879877","https://openalex.org/W2087726820","https://openalex.org/W2094514178","https://openalex.org/W2106173884","https://openalex.org/W2111010266","https://openalex.org/W2120017557","https://openalex.org/W2124441656","https://openalex.org/W2131773668","https://openalex.org/W2146855196","https://openalex.org/W2160333194","https://openalex.org/W2166117860","https://openalex.org/W2176007373","https://openalex.org/W2315882422","https://openalex.org/W2328502995","https://openalex.org/W2402577788","https://openalex.org/W2415032206","https://openalex.org/W2506468485","https://openalex.org/W2797652052","https://openalex.org/W2992022362","https://openalex.org/W3122597312","https://openalex.org/W4297974475"],"related_works":["https://openalex.org/W2021451967","https://openalex.org/W2070205301","https://openalex.org/W2969430158","https://openalex.org/W2048951190","https://openalex.org/W1967818938","https://openalex.org/W565846167","https://openalex.org/W2145771436","https://openalex.org/W7095701242","https://openalex.org/W2110925398","https://openalex.org/W2023562436"],"abstract_inverted_index":{"The":[0,69],"pricing":[1],"efficiency":[2],"of":[3,37,54],"the":[4,34,38,60,81,93],"live":[5,94],"hog":[6,95],"futures":[7,39,61,96],"market":[8,40,67,76],"is":[9,72],"examined":[10],"utilizing":[11],"both":[12],"necessary":[13,64],"and":[14,26,51],"sufficient":[15,70],"conditions.":[16],"Out-of-sample":[17],"forecasts":[18],"from":[19],"an":[20,23],"econometric":[21],"model,":[22,50],"ARIMA":[24],"model":[25,30,84],"a":[27,42,63],"composite":[28],"forecasting":[29],"are":[31],"compared":[32],"with":[33],"forward":[35],"prices":[36],"within":[41],"mean":[43],"squared":[44],"error":[45],"framework.":[46],"At":[47],"least":[48],"one":[49],"frequently":[52],"all":[53],"them,":[55],"forecast":[56],"more":[57],"accurately":[58],"than":[59],"market,":[62],"condition":[65,71],"for":[66],"efficiency.":[68],"assessed":[73],"using":[74],"simulated":[75],"trading":[77],"strategies":[78],"based":[79],"o,n":[80],"most":[82],"accurate":[83],"forecasts.":[85],"Results":[86],"suggest":[87],"that":[88],"informational":[89],"inefficiencies":[90],"exist":[91],"in":[92],"market.":[97]},"counts_by_year":[{"year":2024,"cited_by_count":1},{"year":2013,"cited_by_count":1}],"updated_date":"2026-10-14T16:39:01.820549","created_date":"2016-06-24T00:00:00"}