Resource Allocation with Spatial Externalities: Experiments on Land Consolidation
AbstractThis paper compares the performance of a two-sided combinatorial call market, direct negotiation, and double auction for consolidating fragmented land. Experimental results suggest direct negotiation produces higher efficiencies than other mechanisms. The combinatorial call market tends to alleviate the exposure problem, and performs well when 1) swapping is easily agreeable, and 2) the number of subjects and commodities are increased and the initial endowments are unchallenging. The two-sided combinatorial call market, however, suffers from the holdout problem when the number of subjects and commodities is small.
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Bibliographic InfoArticle provided by De Gruyter in its journal The B.E. Journal of Economic Analysis & Policy.
Volume (Year): 7 (2007)
Issue (Month): 1 (January)
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Web page: http://www.degruyter.com
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- John Cadigan & Pamela Schmitt & Robert Shupp & Kurtis Swope1, 2009.
"An Experimental Study of the Holdout Problem in a Multilateral Bargaining Game,"
Southern Economic Journal,
Southern Economic Association, vol. 76(2), pages 344-457, October.
- Kurtis Swope & Pamela Schmitt & John Cadigan & Robert Shupp, 2008. "An Experimental Study of the Holdout Problem in a Multilateral Bargaining Game," Departmental Working Papers 21, United States Naval Academy Department of Economics.
- Deininger, Klaus & Savastano, Sara & Carletto, Calogero, 2012.
"Land Fragmentation, Cropland Abandonment, and Land Market Operation in Albania,"
Elsevier, vol. 40(10), pages 2108-2122.
- Deininger, Klaus & Savastano, Sara & Carletto, Calogero, 2012. "Land fragmentation, cropland abandonment, and land market operation in Albania," Policy Research Working Paper Series 6032, The World Bank.
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