EXPERIMENTAL EXAMINATION OF A THIN MARKET: PRICE BEHAVIOR IN A DECLINING TERMINAL MARKET REVISITED Reportar como inadecuado




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Perceived characteristics of thin markets are described and approaches to furthering their study are suggested. Design features of a laboratory thin market, patterned after a typical livestock marketing situation, are described. Price bias and variation from a thick private negotiation market with 22 traders is compared to that from a thin auction market with 8 traders. No systematic price bias was found in any of the markets. Price variation was actually lower in the thin auction market.

Keywords: Auction ; Experimental economics ; Price discovery ; Thin market

Subject(s): Marketing

Issue Date: 1995-07

Publication Type: Journal Article

PURL Identifier: http://purl.umn.edu/15328 Published in: Journal of Agricultural and Applied Economics, Volume 27, Number 1 Page range: 149-160

Total Pages: 12

Record appears in: Southern Agricultural Economics Association (SAEA) > Journal of Agricultural and Applied Economics





Autor: Nelson, Robert G. ; Turner, Steven C.

Fuente: http://ageconsearch.umn.edu/record/15328?ln=en







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