An Experimental Investigation of the Incentives to Form Agricultural Marketing Pools.
(1998)
Journal Article
Hoffman, E., Libecap, G., & Shachat, J. (1998). An Experimental Investigation of the Incentives to Form Agricultural Marketing Pools. Journal of Mathematical Psychology, 42(2-3), 287-304. https://doi.org/10.1006/jmps.1998.1216
This paper presents theoretical extensions and laboratory tests of Hoffman and Libecap's (1994) model of individual firms' incentives to form agricultural marketing pools. The key incentives are lower variance in output prices and economies in scale... Read More about An Experimental Investigation of the Incentives to Form Agricultural Marketing Pools..