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	Provedor de dados AgEcon (1) Autor Brümmer, Bernhard (1) Loy, Jens-Peter (1) Requate, Till (1) Palavra-chave D44 (1) Double Auction (1) Experiment (1) Germany (1) Institutional and Behavioral Economics (1) L11 (1) Milk Quota (1) Q13 (1) Research Methods/ Statistical Methods (1) Mais... Tipo do documento Conference Paper or Presentation (1) Ano 2010 (1) País United States (1) Idioma Inglês (1)		Ordenar por:  Relevância Autor Título Ano Registros recuperados: 1 Primeira ... 1 ... Última Auction Experiments and Simulations of Milk Quota Exchanges AgEcon Brümmer, Bernhard; Loy, Jens-Peter; Requate, Till. Since 2000 Germany has a fairly unique market mechanism to trade milk quotas between dairy farms. The two major features are: (1) a quasi auctioning system that produces excess demands which are covered by state reserves free of charge and (2) a price band is used to exclude high price bids. For both features an experimental design is developed to study their impact in comparison to a regular seller’s sealed bid double auction. Results show that both treatments lead to significant misallocations. These are due the direct impact of regulations and due to an imperfect adjustment of bidding functions towards them. The major goal of the market design to reduce quota prices is reached, however, at significant trade losses. Tipo: Conference Paper or Presentation Palavras-chave: Double Auction; Experiment; Milk Quota; Germany; Institutional and Behavioral Economics; Research Methods/ Statistical Methods; L11; D44; Q13. Ano: 2010 URL: http://purl.umn.edu/61304 Registros recuperados: 1 Primeira ... 1 ... Última

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