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In negotiated transactions the act of choosing trading partners and “who chooses” creates a bargaining culture that influences trading behavior. Results are presented from experimental markets in which paired buyers and sellers negotiate the repeated sale of units. Relative to a market...
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This study examines laboratory market outcomes under alternative matching risk scenarios and advance production. Limited access and/or asymmetry in the number of buyers and sellers cause a matching problem. When sellers hold inventory before sale and there is buyer concentration, prices are...
Persistent link: https://www.econbiz.de/10005291085
At livestock auctions, the same purchasing agent can represent more than one processor. Repeated multiple-unit English auctions are created in a laboratory to measure the impact of shared agents on trade prices under alternative treatments with six, and as few as two, agents representing six...
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Using laboratory markets, this research investigates the impacts of reporting different kinds of aggregated trade information to buyers and sellers who conduct transactions through bilateral/private negotiation. There are a limited number of bargaining rounds or matches between buyer and seller...
Persistent link: https://www.econbiz.de/10010544624
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At livestock auctions, the same purchasing agent can represent more than one processor. Repeated multiple-unit English auctions are created in a laboratory to measure the impact of shared agents on trade prices under alternative treatments with six, and as few as two, agents representing six...
Persistent link: https://www.econbiz.de/10009401421
Advance production in spot markets increases seller costs because inventories must be held. This cost does not exist in production-to-demand (or forward) markets, for which production follows trading, and sales exactly match quantities produced. Data from laboratory-computerized markets that...
Persistent link: https://www.econbiz.de/10010613758