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Incentives, Information Systems and Competition

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Author Info

  • Peter Bogetoft

    (The Royal Veterinary and Agricultural University, Denmark)

  • Henrik B. Olesen

    (The Royal Veterinary and Agricultural University, Denmark)

Abstract

We 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 Info

Paper provided by University of Copenhagen. Department of Economics. Centre for Industrial Economics in its series CIE Discussion Papers with number 2000-12.

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Length: 22 pages
Date of creation: Dec 2000
Date of revision:
Handle: RePEc:kud:kuieci:2000-12

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Related research

Keywords: Quality; Testing; Industrial Organization; Information Externalities;

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Cited by:
  1. Ibarburu, Maro A. & Lawrence, John D. & Busby, Darrell, 2007. "Economics of Increased Beef Grader Accuracy," 2007 Conference, April 16-17, 2007, Chicago, Illinois 37558, NCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
  2. John A. Miranowski & Bruce A. Babcock, 2004. "Genetic Information in Agricultural Productivity and Product Development," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(1), pages 73-87.
  3. Hueth, Brent & Marcoul, Philippe & Ginder, Roger G., 2005. "Cooperative Formation And Financial Contracting In Agricultural Markets," 2005 Annual meeting, July 24-27, Providence, RI 19324, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  4. Moisés de Andrade Resende Filho & Brian L. Buhr, 2006. "A Principal-Agent Model For Evaluating The Economic Value Of A Beef Traceability System: A Case Study With Injection-Site Lesions Control In Fed Cattle In The Us," Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting] 127, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
  5. Golan, Elise H. & Roberts, Tanya & Salay, Elisabete & Caswell, Julie A. & Ollinger, Michael & Moore, Danna L., 2004. "Food Safety Innovation In The United States: Evidence From The Meat Industry," Agricultural Economics Reports 34083, United States Department of Agriculture, Economic Research Service.

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