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
APA
Chicago
ICMJE
MLA
NLM
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
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