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To trust or to bid: an empirical analysis of social relationships on a fish market

Author

Listed:
  • Sylvain Mignot

    (LEM - Lille économie management - UMR 9221 - UA - Université d'Artois - UCL - Université catholique de Lille - Université de Lille - CNRS - Centre National de la Recherche Scientifique)

  • Stéphanie Saba

    (CRED - Centre de Recherche en Economie et Droit - UP2 - Université Panthéon-Assas)

  • Annick Vignes

    (ENPC - École des Ponts ParisTech, CAMS - Centre d'Analyse et de Mathématique sociales - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique)

Abstract

This article analyses the influence of trust on the functioning of a fish market, where agents can choose between bidding or exchanging through bilateral transactions. Even if it is well accepted in economy that trust plays an important role in transactions, its definition and its measurement stay, as far as we know, very elusive. Starting from the empirical analysis of the Boulogne-sur-Mer fish market, a market where people have the choice between trading through auctions or bilateral exchanges, we show how the social networks structure differ between the auction market and the bilateral one . We then propose a measurement of trust, based on the dynamics of agents encounters. We bring into the light that, when the transaction links on the auction market reflects the economic constraints of the partners, the relationships on the bilateral market depend on something more. Clearly, the bilateral transactions result from economics and non economics determinants.

Suggested Citation

  • Sylvain Mignot & Stéphanie Saba & Annick Vignes, 2016. "To trust or to bid: an empirical analysis of social relationships on a fish market," Working Papers halshs-01298872, HAL.
    • Handle: RePEc:hal:wpaper:halshs-01298872
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-01298872
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    References listed on IDEAS

    as
    1. Sylvain Mignot & Gabriele Tedeschi & Annick Vignes, 2012. "An Agent Based Model of Switching: The Case of Boulogne S/mer Fish Market," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 15(2), pages 1-3.
    2. Paul R. Milgrom & Douglass C. North & Barry R. Weingast*, 1990. "The Role Of Institutions In The Revival Of Trade: The Law Merchant, Private Judges, And The Champagne Fairs," Economics and Politics, Wiley Blackwell, vol. 2(1), pages 1-23, March.
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    7. Mary L. Rigdon & Kevin A. McCabe & Vernon L. Smith, 2007. "Sustaining Cooperation in Trust Games," Economic Journal, Royal Economic Society, vol. 117(522), pages 991-1007, July.
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    Keywords

    social networks ; trust; market design;
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