In recent years, concern has arisen about the structure of the international grain trade and its ability to operate in the interest of exporting or importing countries (McCalla and Schmitz). Producers and consumers question whether international market intermediaries' interests or strategies...

Experimental economics is used to investigate two important hypotheses proposed in the economics literature on tournaments. Specifically, we test for a hypothesized “disincentives effect” which can occur in tournaments with mixed ability agents. We also test the well known hypothesis that,...