EXPERIMENTAL EXAMINATION OF A THIN MARKET: PRICE BEHAVIOR IN A DECLINING TERMINAL MARKET REVISITED

Robert G. Nelson and Steven C. Turner

Journal of Agricultural and Applied Economics, 1995, vol. 27, issue 01, 12

Abstract: Perceived characteristics of thin markets are described and approaches to furthering their study are suggested. Design features of a laboratory thin market, patterned after a typical livestock marketing situation, are described. Price bias and variation from a "thick" private negotiation market with 22 traders is compared to that from a "thin" auction market with 8 traders. No systematic price bias was found in any of the markets. Price variation was actually lower in the thin auction market.

Keywords: Marketing (search for similar items in EconPapers)
Date: 1995
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:joaaec:15328

DOI: 10.22004/ag.econ.15328

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