请高手帮忙翻译,英译汉,谢谢!Price discovery is the process through which

请高手帮忙翻译,英译汉,谢谢!
Price discovery is the process through which markets attempt to reach equilibrium prices(Schreiber and Schwartz). In a static sense, price discovery implies the existence of equi-librium prices. In a dynamic sense, the price discovery process describes how information is produced and transmitted across the markets.
price discovery is a major function for commodity futures markets. Information on price discovery is essential because these markets are widely used by firms engaged in the production, marketing, and processing of commodities. Production and consumption decisions depend on efficient price signals from the markets. It is generally argued(Leuthold,junkus,and Cordier,p.4;Peck,p.70) that price discovery in commodity futures markets is more efficient than that in cash markets. The literature,as reviewed in the next section,focuses on whether futures rather than cash markets. The issue relates to the temporal price relationship between cash and future markets. Specifically,for similar commoditier,do futures prices dominantly lead the cash price or vice versa? The paradigms presented here are only concerned with a spencific commodity that is traded in a single centralized cash and/or futures market.