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Rate Filing Policies for Inland Water Transportation: An Experimental Approach

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  • James T. Hong
  • Charles R. Plott
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    Abstract

    This study uses laboratory experiments to explore the possible consequences of a proposed rate publication policy for the domestic, dry bulk commodity transportation industry on inland waterways. The central problem is to determine the effects of a requirement that a carrier must file a proposed rate change with the Interstate Commerce Commission at least fifteen days before the rate change is to become effective. The study concludes that in laboratory markets that have many of the essential economic features of the barge industry, rate filing policies cause higher prices, lower volume, and reduced efficiency, and they hurt the small participants. Claims that rate filing policies would improve the operations of markets with these economic features are not supported by the laboratory research conducted to date.

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    Bibliographic Info

    Article provided by The RAND Corporation in its journal Bell Journal of Economics.

    Volume (Year): 13 (1982)
    Issue (Month): 1 (Spring)
    Pages: 1-19

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    Handle: RePEc:rje:bellje:v:13:y:1982:i:spring:p:1-19

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    Cited by:
    1. José Apesteguía & Martin Dufwenberg & Reinhard Selten, 2003. "Blowing the Whistle," Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra 0303, Departamento de Economía - Universidad Pública de Navarra, revised 2003.
    2. Kirchsteiger, G. & Niederle, M. & Potters, J.J.M., 1998. "The Endogenous Evolution of Market Institutions: An Experimental Investigation," Discussion Paper 1998-67, Tilburg University, Center for Economic Research.
    3. Rasch, Alexander & Herre, Jesko, 2013. "Customer-side transparency, elastic demand, and tacit collusion under differentiation," Information Economics and Policy, Elsevier, vol. 25(1), pages 51-59.
    4. Glenn Harrison & John List, 2004. "Field experiments," Artefactual Field Experiments 00058, The Field Experiments Website.
    5. Bester, H., 1991. "Bargaining vs. price competition in a market with quality uncertainty," Discussion Paper 1991-13, Tilburg University, Center for Economic Research.
    6. Phillips, Owen R. & Menkhaus, Dale J., 2006. "The Culture of Private Negotiation: Price Drift in Bilateral Bargaining," 2006 Annual meeting, July 23-26, Long Beach, CA 21168, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    7. Kirchsteiger, G. & Niederle, M. & Potters, J.J.M., 2001. "Public Versus Private Exchanges," Discussion Paper 2001-101, Tilburg University, Center for Economic Research.
    8. John List, 2002. "Testing neoclassical competitive market theory in the field: Some pilot results," Framed Field Experiments 00172, The Field Experiments Website.
    9. Normann, Hans-Theo, 2010. "Experimentelle Ökonomik für die Wettbewerbspolitik," DICE Ordnungspolitische Perspektiven 06, Heinrich‐Heine‐Universität Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    10. John A. List, 2007. "Field Experiments: A Bridge Between Lab and Naturally-Occurring Data," NBER Working Papers 12992, National Bureau of Economic Research, Inc.

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