Livestock Markets and Buyers' Perspectives on Voluntary versus Mandatory Disclosure of Information: Evidence from Cattle Markets in Uttar Pradesh
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Using data from buyers and sellers of livestock in three markets in Pratapgarh district of Uttar
Pradesh this study examines the functioning of livestock markets with focus on disclosure of information
and constraints faced by buyers and sellers. In traditional markets voluntary disclosure has been reported
to exist for quite long, but it restricts itself to information on search and experience attributes of the
animals which may lead to lack of transparency in the markets. The findings of the study clearly indicate
that the livestock market may work well to induce self or voluntary disclosure of information for search
and experience attributes, the mandatory disclosure is important for credence attributes of the animal and
thereby efficient functioning of markets. The study suggests strengthening of infrastructure in livestock
markets