This paper investigates the informational efficiency of global crude oil markets using a recently introduced quantitative measure for market inefficiency. The methodology assesses the deviation of observed oil price behavior from the Random Walk benchmark, representing an efficient market. The...

Agricultural commodities are typically produced over an extensive spatial area and are costly to transport relative to their total value. These characteristics yield a complex set of spatial price linkages which are often studied to gain insights into the performance of markets. An extensive...