In recent years, concern has arisen about the structure of the international grain trade and its ability to operate in the interest of exporting or importing countries (McCalla and Schmitz). Producers and consumers question whether international market intermediaries' interests or strategies...

Experimental economics is used to investigate two important hypotheses proposed in the economics literature on tournaments. Specifically, we test for a hypothesized “disincentives effect” which can occur in tournaments with mixed ability agents. We also test the well known hypothesis that,...

The structure of industries changes in two major ways. Mergers, acquisitions, and divestitures are considered external factors. In addition, the firm rate of internal growth will influence market concentration. If the firm grows slower than the market, concentration will go down, etc. These two...

Experimental economics is used to compare tournaments (T) and fixed performance contracts (F) when agents have heterogeneous costs. Our primary findings were: (1) There is no statistical difference in average pooled effort (effort by high ability and low ability subjects are pooled together to...

Temporal relationships are investigated among fabricated cut prices, carcass value, and fed cattle prices. Also, linkages between fed cattle and wholesale beef prices are examined using vector autoregressive (VAR) techniques. Results, using daily prices over the 1980-85 period, suggested that...