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...

We argue that economic laboratory experiments can facilitate active learning of theory in the agricultural economics curriculum by placing students in decision-making roles. Three types of experimental protocols are described, along with a discussion of the costs and benefits of experiments. The...

We examine the distribution of welfare from the introduction of Bt cotton in the United States in 1996. The welfare framework explicitly recognizes that research protected by intellectual property rights generates monopoly profits, and makes it possible to partition these rents among consumers,...

We argue that economic laboratory experiments can facilitate active learning of theory in the agricultural economics curriculum by placing students in decision-making roles. Three types of experimental protocols are described, along with a discussion of the costs and benefits of experiments. The...

This series of papers is an excellent opportunity to reacquaint agricultural economists in the Southern region with the exciting field of experimental economics and is indeed opportune in light of the recent awarding of the Nobel Prize in Economics to Vernon Smith, considered by many to be the...

We examine the distribution of welfare from the second-year planting of Bt cotton in the United States in 1997. We also provide preliminary estimates of the planting of herbicide-tolerant soybeans in 1997. For Bt cotton, total increase in world surplus was $190.1 million and US farmer share of...

Ninety-five consumers in seven grocery stores tasted unidentified peeled sections of three mandarins (a tangerine, a satsuma, and a clementine), and provided demographic and purchase information. Forty-four percent of the respondents preferred tangerines, 34 percent satsumas, and 22 percent...

Reviewers of manuscripts on classroom experiments often ask the authors to provide evidence of the effectiveness of the method, presumably to justify substituting experiments for lectures. After reviewing the current state of evaluation methodology, we argue that such evidence may be neither...

This classroom experiment allows students to explore pricing strategies available to the monopolist. Students are given full information about their costs but know nothing about demand except that it is simulated by the instructor. They submit their price-asked and quantity-offered records on...