The Value of price information in the profitability of hog sales
研究了追求利润最大化的生猪养殖户寻求价格信息的最佳数量，发现教育程度低的农户从价格信息中获益更多，且信息源数量存在递减收益。
The optimum amount of price information sought by profit-maximizing hog farmers is examined for farmers with varying amounts of education and experience. Human capital theory that predicts education can substitute for some factor inputs is developed and born out by the findings. A logit model was used to estimate the probability that hog farmers in Northern West-Germany would receive a higher than average price for their hogs, when they used newspapers and/or farm magazines as sources of price information. The probability of receiving a higher price after consulting one or more sources of price information was greater for farmers with the least education. Decreasing returns to the number of sources was also evidenced; more strongly so for experienced and well-educated farmers.