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...

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...

Experimental economics procedures were used to investigate impacts of a proposed bond scheme on production decisions. As expected, production with subsidy payments tied to a support price was substantially higher than with no policy. A shift from the support price to equivalent annual or...

Previous research suggests an increase in committed procurement can result in lower cash market prices for livestock. There is a paucity of research that ascertains prices received by market agents trading in a prior bargaining session via alternative marketing arrangements versus those who have...

The evolution of vertical coordination systems and pricing mechanisms in the Russian food system are summarized. The activities in the stages of the food vertical chain during the command economy period were coordinated administratively similar to an integrated firm. Coordination in the food...

This laboratory study investigates the extent to which matching and inventory loss risks contribute to market power in private negotiation trading. Asymmetry in the number of buyers and sellers increases matching risk when exchange is bilateral. The risk of inventory loss can occur from advance...

Experimental economics procedures were used to investigate impacts of a proposed bond scheme on production decisions. As expected, production with subsidy payments tied to a support price was substantially higher than with no policy. A shift from the support price to equivalent annual or...