William G. Tomek is Professor Emeritus of Applied Economics and Management at Cornell University. Harry M. Kaiser is the Gellert Family Professor of Applied Economics and Management at Cornell University. He is the coauthor of Mathematical Programming Models for Agricultural, Environmental and Resource Economics and coeditor most recently of New Empirical Industrial Organization and the Food System.

• 1. IntroductionPart I. Principles of Price Determination2. Demand for Agricultural Products3. Demand Elasticities and Related Coefficients4. Supply Relationships in Agriculture5. Price Determination: Theory and PracticePart II. Price Differences and Variability6. Marketing Margins7. Price Differences Associated with Quality8. Spatial Price Relationships9. Price Variation through Time10. General Farm–Non-farm Price RelationshipsPart III. Pricing Institutions11. Mechanisms for Discovering Prices12. Price Relationships on Commodity Futures Markets13. Functions of Commodity Futures Markets14. Background for Price Analysis15. Using and Evaluating Results16. Applications

The book is aimed at an intermediate level course in agricultural prices and marketing. This is one of the best books in agricultural prices available at this level.(American Journal of Agricultural Economics) As a comprehensive reference on agricultural price behaviour at an intermediate level, the book is a worthwhile resource. It is well written and clearly considers and clarifies the principles required to understand the operation of open-agricultural product markets. I recommend this book to students and practitioners alike.- Stuart Mounter (Australian Journal of Agricultural and Resource Economics) In its introduction, the book promises to provide an understanding of the complex arrays of forces that determine the level and behavior of prices and to assist students in bridging theories and empirical analysis on price behavior. It can undoubtedly be said that both promises have been realized in the book...The book's intuitive approach to explaining economic concepts makes it appealing for a wider audience in addition to graduate and undergraduate students. In light of the rise in the volatility of global food and agricultural products since 2007/2008, non-economists wishing to understand the basic mechanics of food price behavior could be interested in reading the book.- Tsion Taye Assefa (European Review of Agricultural Economics)