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Pigs in Cyberspace: A Natural Experiment Testing Differences between Online and Offline Club-Pig Auctions

Author

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  • Brian E. Roe
  • Timothy E. Wyszynski
  • Jafar M. Olimov

Abstract

We find sale prices and net revenues received by sellers in the Midwestern club-pig market are higher at traditional face-to-face auctions than at comparable Internet auctions. The comparison overcomes endogenous selection issues that commonly plague such analyses by using data from sellers that allocated pigs to both markets based on exogenous differences in dates between online and offline auctions. Auction theory suggests that the higher prices and net revenues from traditional auctions are attributable to remaining differences in auction format and buyer characteristics. Copyright 2011, Oxford University Press.

Suggested Citation

  • Brian E. Roe & Timothy E. Wyszynski & Jafar M. Olimov, 2011. "Pigs in Cyberspace: A Natural Experiment Testing Differences between Online and Offline Club-Pig Auctions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 93(5), pages 1278-1291.
    • Handle: RePEc:oup:ajagec:v:93:y:2011:i:5:p:1278-1291
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    File URL: http://hdl.handle.net/10.1093/ajae/aar049
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    Cited by:

    1. Holst, Gesa Sophie & Hermann, Daniel & Musshoff, Oliver, 2015. "Anchoring effects in an experimental auction – Are farmers anchored?," Journal of Economic Psychology, Elsevier, vol. 48(C), pages 106-117.
    2. Holst, G.S. & Hermann, D. & Mußhoff, O., 2015. "Anchoring Effects in an Experimental Auction," Proceedings “Schriften der Gesellschaft für Wirtschafts- und Sozialwissenschaften des Landbaues e.V.”, German Association of Agricultural Economists (GEWISOLA), vol. 50, March.

    More about this item

    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness

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