CONCLUSIONS REGARDING THE INFORMATIONAL EFFICIENCY USAGE ON CONVERTED TIMBER SELLING
Journal Title: Studia Universitatis "Vasile Goldis" Arad - Seria Stiinte Ingineresti si agro-turism - Year 2009, Vol 4, Issue 1
Abstract
Selling of the converted timber is the most efficient method in the wood market, being a �win-win� situation. Because there is no asymmetry for the information (both partners know as much as the other about the quantity and the quality of the merchandise), the price is the adjusting instrument of the market, with market informational efficiency. This document is presenting some results of the analysis made in a new direction of the development of the wood market: informational efficiency or the degree in which the buyer or/and seller to the present sell uses the results of the previous sells. The analysis is starting assuming that both partners are using this information: the seller to establish a fair starting price, the buyer must estimate the maximum of the bid price or the maximum quantity of wood that is capable to acquire at the starting price. The methodology is using the correlation between the mobile environment of the starting prices and the selling ones, done both for the same place and in the neighboring zones. Also there is an analysis of the demand concentration made on the selling warehouses, in conjunction with the demanding enterprises that have bought different kind of logs. The results, not always statistical assured, are just a starting base for implementing the adjusting mechanism of the demand � offer equilibrium.
Authors and Affiliations
Ioan Strempel
Keywords
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