Shimomura, Ken-Ichi; Yamato, Takehiko - Research Institute for Economics and Business … - 2011
We study market exchange in the laboratory by a multiethnic experiment in Kenya. The subjects of our experiment are of three ethnicities, Kikuyu, Luo, and Kalenjin. Our model contains two types of consumers and two kinds of commodities, and three competitive equilibria exist. The two equilibria...