Figure 3. Skill and Luck Components of the Difference Between Average Advisory Price or Revenue and the Farmer Benchmark, Corn, Soybeans and 50/50 Advisory Revenue, 1995-2000 Crop Years
	Panel A. Efficient Market Theory: 24-Month Benchmark
	Panel B. Efficient Market Theory: 20-Month Benchmark
	Panel C. Behavioral Market Theory
	Note: The figures at the top of each bar represent the average difference between advisory prices and the USDA farmer benchmark.  For ease of interpretation, skill and luck components are presented as proportions of this average difference.