Presently, we can not find the scientific analysis that clearly explains the deepest roots of global economical and moral crisis. Because of that many famous politicians, economists, sociologists denote the understanding of current situation as the most valuable attainment. Under traditional...

Two firms produce different qualities at possibly different, constant marginal costs. They compete in quantities on a market where buyers only observe the average quality supplied. The model is a generalization of the standard Cournot duopoly, which corresponds to the special case where the two...

We analyse how the market design influences the bidding behaviour in multi-unit auctions, such as wholesale electricity markets. It is shown that competition improves for increased market transparency and we identify circumstances where the auctioneer prefers uniform to discriminatory pricing....

Two firms produce different qualities at possibly different, constant marginal costs. They compete in quantities on a market where buyers only observe the average quality supplied. The model is a generalization of the standard Cournot duopoly, which corresponds to the special case where the two...

After controlling a variety of feeder cattle characteristics and market and sale conditions, weestimate the price premiums for preconditioning (vaccinations and minimum 30 days weaning)claims with and without third-party certification (TPC) as $6.15/cwt and $3.40/cwt, respectively,in Iowa feeder...

We study the effect of alleviating information asymmetry regarding product quality that is widespread in developing-country agricultural markets. Opportunistic buyers may underreport quality levels back to farmers to reduce the price they have to pay. In response, farmers may curb investment,...

Diagnostic tests provide valuable information to buyers about credence attributes like food safety and GMO content. Errors in testing, however, can mislead buyers and lead to problems like adverse selection. The ability to segregate suppliers who can deliver safe food from suppliers who cannot...

We investigate search costs for farmers and traders, by measuring how the introduction of mobile phones in Mozambique affected maize producer prices and traders’ margins. Our estimations are based on weekly producer and retail prices of white maize grain, from July 1997 to December 2009, for...

Smallholder agriculture in Sub-Saharan Africa is largely exposed to pervasive market failures, translating into missed opportunities and sub-optimal economic behavior. These failures can partly be traced to the importance of economies of scale in procuring inputs and marketing produce, where...