PRICE‐QUALITY RELATIONSHIPS FOR BEEF IN SMITHFIELD MARKET
研究了史密斯菲尔德市场牛肉价格与质量指标的关系，测算了不同产地牛肉因未达到最优质量或苏格兰标准而损失的收入，发现质量差异只能解释苏格兰牛肉与其他地区牛肉价格差距的一小部分。
Smithfield beef prices are regressed on quality measurements made on beef selling in Smithfield market. Optimal weight, conformation and fat levels are derived and the revenue foregone by not obtaining these optima is estimated for Scotch, English, Republic of Ireland and Northern Irish beef. For other quality characteristics Scotch beef is taken as the norm and the revenue foregone by not producing to Scotch standards is estimated for English, Republic of Ireland and Northern Irish beef. Differences in quality levels are found to explain only a relatively small proportion of the price gap which exists between Scotch beef and beef from the three other areas.