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| Bastian, Christopher T.; Nagler, Amy M.; Menkhaus, Dale J.; Ehmke, Mariah D.; Whitaker, James B.; Young, C. Edwin. |
| We use laboratory market experiments to assess the impact of asymmetric knowledge of a per-unit subsidy and the effect of a decoupled annual income subsidy on factor market outcomes. Results indicate that when the subsidy is tied to the factor as a per-unit subsidy, regardless of full or asymmetric knowledge for market participants, subsidized factor buyers distribute nearly 22 percent of the subsidy to factor sellers. When the subsidy is fully decoupled from the factor, as is the case with the annual payment, payment incidence is mitigated and prices are not statistically different from the no-policy treatment. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Laboratory market experiments; Agricultural subsidies; Subsidy incidence; Land market; Ex ante policy analysis; Agricultural and Food Policy; Institutional and Behavioral Economics; Q18; D03; C92. |
| Ano: 2011 |
URL: http://purl.umn.edu/104108 |
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| Ehmke, Mariah D.; Nagler, Amy M.; Menkhaus, Dale J.; Bastian, Christopher T.; Young, C. Edwin. |
| The objective of this research is to measure individuals’ fairness expectations and relate them to their market behavior in a private-negotiation institution. By doing this, we may inform model parameterization of field data and increase understanding of payment incidence causation. We hypothesize agents will change both their market and UG behavior when the tenant/proposer receives a subsidy following a successful negotiation. We also hypothesize that agents’ market behavior does relate to their fairness expectations in the UG. Two economic experiments were developed to test our hypotheses, a market and an ultimatum bargaining game experiment. We recruited 106 undergraduate students and conducted the experiments in an experimental laboratory using a... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agricultural and Food Policy. |
| Ano: 2010 |
URL: http://purl.umn.edu/61645 |
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