Incentives, Information Systems and Competition
AbstractWe show how different competitive regimes affect the ability to provide incentives based on noisy information systems. Reduced competition facilitates incentive provision. This may rationalize both vertical integration and horizontal integration as seen in many agricultural markets with uncertain quality grading. Moreover, if trading terms are settled before the information is observed, a noisy information system suffices to give proper incentives. This may rationalize the use of long term conditional price contracts in the trading of many agricultural products.
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Bibliographic InfoPaper provided by University of Copenhagen. Department of Economics. Centre for Industrial Economics in its series CIE Discussion Papers with number 2000-12.
Length: 22 pages
Date of creation: Dec 2000
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Quality; Testing; Industrial Organization; Information Externalities;
Other versions of this item:
- L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
- L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production
- Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
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