 Price formation on the Marseille fish market: Evidence from a network analysisAnnick Vignes () and Jean-Michel Etienne Journal of Economic Behavior & Organization, 2011, vol. 80, issue 1, 50-67 Abstract: The empirical analysis of fish markets always reveals strong price dispersion for homogeneous or very similar goods. The problem is how to explain this price dispersion on a market where there is no evident arbitrage. Explanations proposed by different authors include differences in organization, the characteristics of the good, and the influences of social interactions between buyers and sellers. In line with the last of these three approaches, we consider the fish market of Marseille as a seller–seller network. We start by examining the influence of market interactions, through a static and then a dynamic econometric model. We then analyze the role of the seller’s position in the network. We bring to light a surprising paradox, in that the sellers who share the most buyers with competitors (i.e. the most central sellers) charge the highest prices. Keywords: Fish market; Price dispersion; Networks; Dynamic panel model (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jeborg:v:80:y:2011:i:1:p:50-67 DOI: 10.1016/j.jebo.2011.07.003 Access Statistics for this article Journal of Economic Behavior & Organization is currently edited by Houser, D. and Puzzello, D. More articles in Journal of Economic Behavior & Organization from Elsevier |
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