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Registros recuperados: 50 | |
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Nelson, Robert G.; Beil, Richard O., Jr.. |
This experiment demonstrates principles of decision-making in dynamic oligopolies, especially the difficulties in forming and maintaining cartels. As an illustration of firm behavior under imperfect competition, the game distinguishes between procedurally rational choices and substantively rational decisions in the context of collusive, Cournot, and competitive equilibria. The paper discusses results from an actual classroom exercise and suggests some additional variations in institutional details. Instructions for students and a spreadsheet program for producing payoff tables are provided in the appendices. |
Tipo: Journal Article |
Palavras-chave: Teaching; Experimental economics; Oligopoly; Teaching/Communication/Extension/Profession. |
Ano: 1995 |
URL: http://purl.umn.edu/15353 |
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Boxall, Peter C.; Perger, Orsolya; Packman, Katherine. |
Conservation auctions (CA) are typically employed to increase the provision of Ecological Goods and Services (EG&S) for achieving environmental goals. This paper exmaines the ability of a CA to meet an environmental target. Previous research on this topic used the number of contracts as a target rather than some specified environmental goal. We used experimental economic methods benchmarked to a wetlands restoration case study to examine a target constraint that must be met by bidders rather than a budget constraint. However, since no budget constraint is employed, agencies with limited resources might have to use other auction design procedures to ensure that financial outlays to pay winning bidders are not too high while meeting the target.... |
Tipo: Working Paper |
Palavras-chave: Conservation auctions; Environmental target; Experimental economics; Environmental Economics and Policy; Q52; Q58; D44. |
Ano: 2012 |
URL: http://purl.umn.edu/121624 |
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Otoo, Miriam; Fulton, Joan R.; Wu, Steven Y.; Ibro, Germaine. |
We use field experiments in Niger to investigate the nature and efficiency of contractual structures in market transactions between kossai vendors and cowpea grinders (key input suppliers). Three contractual structures were employed: gift contract, standard price contract and discretionary bonus contract (most incomplete). Gift contracts and standard price contracts involve an upfront payment of grinding fees where discretionary bonus contracts involve payment after the quality of service is observed. Gift contracts were found to be the most ex-ante efficient with the highest acceptance rates. Discretionary bonus contracts (most incomplete) were the most ex-post efficient that is, resulted in the highest quality. Our results suggest that the degree of... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Incomplete contracts; Street food vendors; Experimental economics; International Development. |
Ano: 2010 |
URL: http://purl.umn.edu/61458 |
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Huffman, Wallace E.; Shogren, Jason F.; Rousu, Matthew C.; Tegene, Abebayehu. |
With the continuing controversy over genetically modified (GM) foods, some groups advocate mandatory labeling of these products, while other groups oppose labeling. An important issue is how GM labels affect consumers' willingness to pay for these food products in the market. Using a statistically based economics experiment with adult consumers as subjects, we examine how willingness to pay changes for three food products--vegetable oil, tortilla chips, and potatoes--when GM labels are introduced. Participants in the experiments discounted GM-labeled foods by approximately 14% relative to their standard-labeled counterparts. The evidence also showed that sequencing of food labels affects willingness to pay, and that randomizing treatments is an important... |
Tipo: Journal Article |
Palavras-chave: Consumer demand; Corn chips; Experimental economics; Food labels; Genetic modification; GM foods; Laboratory auctions; Potatoes; Vegetable oil; Willingness to pay; Consumer/Household Economics. |
Ano: 2003 |
URL: http://purl.umn.edu/31071 |
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Nordblom, Thomas L.; Reeson, Andrew; Whitten, Stuart M.; Finlayson, John D.; Kelly, Jason A.; Hume, Iain H.. |
Shortfalls in water supplies are perhaps the greatest practical NRM policy concern in Australia today, looming larger in many minds than the great international debates on greenhouse gasses, climate change and biodiversity. Because forest land cover uses more water than any other, wide expansion of upstream tree plantations can significantly reduce water yields upon which downstream urban, agricultural and wetlands depend. We consider the economic efficiency and equity (profitability and distributional) consequences of upstream land use change. The ‘environmental services’ of concern in our study are the mean annual quantities and qualities (volumes and salt concentrations) of water flowing from upper parts of a catchment to the downstream interests... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Experimental economics; Land use; Rival water uses; MBI; Environmental Economics and Policy; Resource /Energy Economics and Policy. |
Ano: 2008 |
URL: http://purl.umn.edu/6249 |
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Nguyen, Quang; Leung, PingSun. |
Field experiment and household survey data are combined to investigate whether working in a risky occupation such as fishing makes fishermen have different risk preferences than individuals in other occupations. Prospect theory is utilized as the main analytical framework and a structural model approach is developed to simultaneously correlate the parameters of the utility function under prospect theory with other socioeconomic variables. The key finding is that working in fishing makes economic agents less risk averse than others. Fishermen also tend to be less sensitive to probability weighting changes in the experiment. It is possible that fishermen have adapted to their unique environment by using specific heuristics for decision making under... |
Tipo: Journal Article |
Palavras-chave: Experimental economics; Prospect theory; Risk behavior; Vietnamese fishermen; Resource /Energy Economics and Policy; Risk and Uncertainty. |
Ano: 2009 |
URL: http://purl.umn.edu/57624 |
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Registros recuperados: 50 | |
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