Online markets driving product quality

Prior to the 1850s, farmers and traders in pigs, eggs, grains and other agricultural commodities in mid-western regions of the United States had to contend with high wastage in markets largely brought about by disagreements.

For example, certain farmers would rock up with grains that were unevenly dried or pigs that were too mature. None of the participants got the optimum benefits. The launch and growth of the Chicago Board of trade, a marketplace where buyers and sellers traded agricultural commodities, cured this malaise.