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Information Impacts And Determinants Of Information Selection: An Experimental Approach

Author

Listed:
  • Ruppel, Fred J.
  • Fuller, Stephen W.

Abstract

Laboratory experimentation was used to assess the impacts of information disclosure in imperfect markets. A dual oligopoly market structure was designed with contract information disclosed to subjects under three treatments: no, partial, and full disclosure. Regression analysis revealed some increase in selling price with full information disclosure, but no discernable effects on negotiated prices with partial disclosure. Alternative specifications showed large traders earning significantly lower profits, and information on large traders significantly beneficial to both buyers and sellers. Probit analysis of information selection determinants revealed no significant economic content in trader requests for information under partial disclosure.

Suggested Citation

  • Ruppel, Fred J. & Fuller, Stephen W., 1992. "Information Impacts And Determinants Of Information Selection: An Experimental Approach," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 17(1), pages 1-12, July.
    • Handle: RePEc:ags:jlaare:30727
    DOI: 10.22004/ag.econ.30727
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    References listed on IDEAS

    as
    1. Fuller, Stephen W. & Ruppel, Fred J. & Bessler, David A., 1990. "Effect Of Contract Disclosure On Price: Railroad Grain Contracting In The Plains," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 15(2), pages 1-7, December.
    2. Diamond, Peter A., 1971. "A model of price adjustment," Journal of Economic Theory, Elsevier, vol. 3(2), pages 156-168, June.
    3. Grether, David M & Plott, Charles R, 1984. "The Effects of Market Practices in Oligopolistic Markets: An Experimental Examination of the Ethyl Case," Economic Inquiry, Western Economic Association International, vol. 22(4), pages 479-507, October.
    4. repec:cdl:agrebk:666281 is not listed on IDEAS
    5. Charles R. Plott & Vernon L. Smith, 1978. "An Experimental Examination of Two Exchange Institutions," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 45(1), pages 133-153.
    6. Jeffrey M. Perloff & Gordon C. Rausser, 1983. "The Effect of Asymmetrically Held Information and Market Power in Agricultural Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 65(2), pages 366-372.
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