Are stockholders rational? An experimental approach to testing the competitive storage model

Simone Pfuderer

No 170537, 88th Annual Conference, April 9-11, 2014, AgroParisTech, Paris, France from Agricultural Economics Society

Abstract: The competitive storage model has been the main workhorse of the analysis of the role of storage in commodity price formation since Gustafson proposed his model in 1958. The main approach to testing the competitive storage model has been the comparison of the characteristics of the predicted prices series with actual commodity price series. This paper introduces a new approach to testing the competitive storage model. A relatively simple model is taken to the experimental laboratory. Participants in the experiment are asked make storage decisions within a competitive storage model framework. Their behaviour and the resulting price series are compared to the model assumptions and predictions. The experiment will be run at the University of Trento in April 2014.

Keywords: Agribusiness; Agricultural Finance; Demand and Price Analysis (search for similar items in EconPapers)
Pages: 12
Date: 2014-04
New Economics Papers: this item is included in nep-exp
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aesc14:170537

DOI: 10.22004/ag.econ.170537

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