Farmers’ performance and subject pool effect in decentralized bargaining markets

We report results from a decentralized bargaining market experiment conducted with farmers and students. Our results indicate that despite its bad reputation, performance is highly efficient (although not as efficient as the competitive equilibrium prediction). Farmers and students perform similarly regarding quantities, prices, and allocative efficiencies, but not regarding payoff allocations between buyers and sellers.

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Year of publication:	2012
Authors:	Waichman, Israel ; Ness, Christiane
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 115.2012, 3, p. 366-368
Publisher:	Elsevier
Subject:	Artefactual field experiment \| Subject pool \| Decentralized bargaining markets \| Farmers \| Efficiency

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Type of publication:	Article
Classification:	C93 - Field Experiments ; D40 - Market Structure and Pricing. General ; Q10 - Agriculture. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010576447