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Imperfect Information And The Firm'S Decision Process: Applications To The Pacific Salmon Market

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  • Lent, Rebecca J.

Abstract

The Pacific salmon wholesale market may operate under conditions of imperfect information, particularly in the short run. Analysis of weekly transaction data by firm supports hypotheses concerning seller behavior under uncertainty, notably price searching with the use of known and estimated information: average and variance of rivals' prices, sales, wages.

Suggested Citation

  • Lent, Rebecca J., 1985. "Imperfect Information And The Firm'S Decision Process: Applications To The Pacific Salmon Market," 1985 Annual Meeting, August 4-7, Ames, Iowa 278663, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea85:278663
    DOI: 10.22004/ag.econ.278663
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    References listed on IDEAS

    as
    1. Steven Salop, 1977. "The Noisy Monopolist: Imperfect Information, Price Dispersion and Price Discrimination," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 44(3), pages 393-406.
    2. Steven Salop & Joseph Stiglitz, 1977. "Bargains and Ripoffs: A Model of Monopolistically Competitive Price Dispersion," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 44(3), pages 493-510.
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    6. Kawasaki, Seiichi & McMillan, John & Zimmermann, Klaus F, 1982. "Disequilibrium Dynamics: An Empirical Study," American Economic Review, American Economic Association, vol. 72(5), pages 992-1004, December.
    7. Joseph E. Stiglitz, 1977. "Symposium on Economics of Information: Introduction," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 44(3), pages 389-391.
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