Product Aggregation, Market Integration, and Relationships between Prices: An Application to World Salmon Markets
探讨商品价格关系在市场整合与产品聚合中的双重作用，并以五种鲑鱼品种的国际市场为例，验证一价定律成立，对需求分析和贸易政策有启示。
Abstract Relationships between prices of goods offer motives of interest in at least two areas: market integration and product aggregation. There is a close relationship between market integration and aggregation, which may increase the usefulness of market integration studies. In this article, these relationships are developed and illustrated by an application to the world salmon market. It is shown that the Law of One Price holds for an international market with five salmon species. This result has significant implications for the world salmon market regarding both product aggregation in demand analyses and international trade policy.