Experimental Markets and Environmental Policy

Jason Shogren

Agricultural and Resource Economics Review, 1993, vol. 22, issue 2, 117-129

Abstract: Experimental markets can be a useful tool to guide and evaluate environmental policy. This paper reviews four experiments to illustrate. Two institutional experiments are considered—Coasian bargaining with positive transaction costs, and a gaming experiment of dynamic choice in a conflict. Two valuation experiments are also discussed—the impact of sequential reduction mechanisms on the value of risk, and experimental auction markets to elicit the value of safer food.

Date: 1993
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Persistent link: https://EconPapers.repec.org/RePEc:cup:agrerw:v:22:y:1993:i:02:p:117-129_00

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