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Analysis Of Grain Shipper/Railroad Contract Disclosure: An Experimental Approach

Author

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  • Ruppel, Fred J.
  • Fuller, Stephen
  • McKnight, Mary

Abstract

The Staggers Rail Act (1980) permitted confidential railroad contracts. Later legislation required disclosure of certain contract terms to allay small shipper claims of injury. This study uses experimental economics to analyze the effects of information disclosure. An oligopolistic market structure vas designed to simulate the market for rail services in the south/central Great Plains. Contract information vas disclosed to market participants under three scenarios: no disclosure, partial disclosure, and full disclosure. The analysis revealed favorable impacts on efficiency but no discernable effect on negotiated prices. An unexpected outcome vas profit enhancement by some participants under the partial disclosure format

Suggested Citation

  • Ruppel, Fred J. & Fuller, Stephen & McKnight, Mary, 1989. "Analysis Of Grain Shipper/Railroad Contract Disclosure: An Experimental Approach," 1989 Annual Meeting, July 30-August 2, Baton Rouge, Louisiana 270510, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea89:270510
    DOI: 10.22004/ag.econ.270510
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    References listed on IDEAS

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    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.
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