PHILLIPS, OWEN R.; NAGLER, AMY M.; MENKHAUS, DALE J.; … - In: Contemporary Economic Policy 28 (2010) 4, pp. 488-501
"Laboratory markets are created to capture the important features of agricultural commodity markets. Sellers make production decisions and hold inventories before goods are sold. In a posted-bid auction environment, price supports create a moral hazard for sellers. Part of the price-support...