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Farmers’ performance and subject pool effect in decentralized bargaining markets

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  • Waichman, Israel
  • Ness, Christiane

Abstract

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.

Suggested Citation

  • Waichman, Israel & Ness, Christiane, 2012. "Farmers’ performance and subject pool effect in decentralized bargaining markets," Economics Letters, Elsevier, vol. 115(3), pages 366-368.
    • Handle: RePEc:eee:ecolet:v:115:y:2012:i:3:p:366-368
    DOI: 10.1016/j.econlet.2011.12.054
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    References listed on IDEAS

    as
    1. James T. Hong & Charles R. Plott, 1982. "Rate Filing Policies for Inland Water Transportation: An Experimental Approach," Bell Journal of Economics, The RAND Corporation, vol. 13(1), pages 1-19, Spring.
    2. repec:feb:framed:0081 is not listed on IDEAS
    3. John A. List, 2004. "Testing Neoclassical Competitive Theory in Multilateral Decentralized Markets," Journal of Political Economy, University of Chicago Press, vol. 112(5), pages 1131-1156, October.
    4. Vernon L. Smith, 1962. "An Experimental Study of Competitive Market Behavior," Journal of Political Economy, University of Chicago Press, vol. 70(3), pages 322-322.
    5. Steven T. Buccola, 1985. "Pricing Efficiency in Centralized and Noncentralized Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(3), pages 583-590.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Omar Al-Ubaydli & John A. List, 2016. "Field Experiments in Markets," NBER Working Papers 22113, National Bureau of Economic Research, Inc.
    2. Michels, Marius & Luo, Hao & Weller von Ahlefeld, Paul Johann & Mußhoff, Oliver, 2023. "Compliance with pre-harvest interval rules in apple production—A comparative analysis of green nudges among fruit growers and agricultural students in Germany," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 102(C).
    3. Denise Peth & Oliver Mußhoff, 2020. "Comparing Compliance Behaviour of Students and Farmers. An Extra‐laboratory Experiment in the Context of Agri‐environmental Nudges in Germany," Journal of Agricultural Economics, Wiley Blackwell, vol. 71(2), pages 601-615, June.
    4. Marie Ferré & Stefanie Engel & Elisabeth Gsottbauer, 2023. "External validity of economic experiments on Agri‐environmental scheme design," Journal of Agricultural Economics, Wiley Blackwell, vol. 74(3), pages 661-685, September.
    5. Stephanie Rosch & Sharon Raszap Skorbiansky & Collin Weigel & Kent D. Messer & Daniel Hellerstein, 2021. "Barriers to Using Economic Experiments in Evidence‐Based Agricultural Policymaking," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 43(2), pages 531-555, June.

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    More about this item

    Keywords

    Artefactual field experiment; Subject pool; Decentralized bargaining markets; Farmers; Efficiency;
    All these keywords.

    JEL classification:

    • C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General
    • Q10 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - General

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