Testing for Imperfect Competition at the Fulton Fish Market
AbstractIn this article, I report the results of a study of the prices paid by individual buyers at the Fulton fish market in New York City. In principle, this is a highly competitive market in which there should be no predictable price differences across customers who are equally costly to service. The results indicate that different buyers pay different prices for fish of identical quality. For example, Asian buyers pay 7% less for whiting than do white buyers, a result which is inconsistent with the model of perfect competition.
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Bibliographic InfoArticle provided by The RAND Corporation in its journal RAND Journal of Economics.
Volume (Year): 26 (1995)
Issue (Month): 1 (Spring)
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Web page: http://www.rje.org
Other versions of this item:
- Graddy, K., 1993. "Testing for Imperfect Competition at the Fulton Fish Market," Papers, Princeton, Department of Economics - Financial Research Center 137, Princeton, Department of Economics - Financial Research Center.
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