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The advantage of resource queues over spot resource markets: Decision coordination in experiments under resource uncertainty

Publication ,  Journal Article
Fonseca, MA; Pfaff, A; Osgood, D
Published in: American Journal of Agricultural Economics
October 1, 2012

Farmers have to make key decisions, such as which crops to plant or whether to prepare the soil, before knowing how much water they will get. They face losses if they make costly decisions but do not receive water, and they may forego profits if they receive water without being prepared. We consider the coordination of farmers' decisions, such as which crops to plant or whether to prepare the soil when farmers must divide an uncertain water supply. We compare ex-ante queues (pre-decision) to an ex-post spot market (post-decision & post-rain) in experiments in rural Brazil and a university in England. Queues have greater coordination success than does the spot market. © 2012 The Author.

Duke Scholars

Published In

American Journal of Agricultural Economics

DOI

EISSN

1467-8276

ISSN

0002-9092

Publication Date

October 1, 2012

Volume

94

Issue

5

Start / End Page

1136 / 1153

Related Subject Headings

  • Agricultural Economics & Policy
  • 3801 Applied economics
  • 1402 Applied Economics
 

Citation

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Chicago
ICMJE
MLA
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Fonseca, M. A., Pfaff, A., & Osgood, D. (2012). The advantage of resource queues over spot resource markets: Decision coordination in experiments under resource uncertainty. American Journal of Agricultural Economics, 94(5), 1136–1153. https://doi.org/10.1093/ajae/aas065
Fonseca, M. A., A. Pfaff, and D. Osgood. “The advantage of resource queues over spot resource markets: Decision coordination in experiments under resource uncertainty.” American Journal of Agricultural Economics 94, no. 5 (October 1, 2012): 1136–53. https://doi.org/10.1093/ajae/aas065.
Fonseca MA, Pfaff A, Osgood D. The advantage of resource queues over spot resource markets: Decision coordination in experiments under resource uncertainty. American Journal of Agricultural Economics. 2012 Oct 1;94(5):1136–53.
Fonseca, M. A., et al. “The advantage of resource queues over spot resource markets: Decision coordination in experiments under resource uncertainty.” American Journal of Agricultural Economics, vol. 94, no. 5, Oct. 2012, pp. 1136–53. Scopus, doi:10.1093/ajae/aas065.
Fonseca MA, Pfaff A, Osgood D. The advantage of resource queues over spot resource markets: Decision coordination in experiments under resource uncertainty. American Journal of Agricultural Economics. 2012 Oct 1;94(5):1136–1153.
Journal cover image

Published In

American Journal of Agricultural Economics

DOI

EISSN

1467-8276

ISSN

0002-9092

Publication Date

October 1, 2012

Volume

94

Issue

5

Start / End Page

1136 / 1153

Related Subject Headings

  • Agricultural Economics & Policy
  • 3801 Applied economics
  • 1402 Applied Economics