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The price effect of expanding fish auction markets

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  • Guillotreau, Patrice
  • Jiménez-Toribio, Ramón

Abstract

Fish markets can be expanded by two means, first by attracting newcomers in a local trading room and secondly by allowing remote bidders to participate. In both cases, electronic systems have played a key role in French primary fish markets. The computerisation of trading rooms started in the mid 1980s while connection through Intranet or Internet systems first started in the mid-1990s and then has spread more actively in France since 2007. However, the socioeconomic impact (on prices for example) of expanding markets by electronic means is far from being clearly predictable. First based on an econometric analysis, this article presents evidence of increases in price level and variability after the implementation of local electronic auction systems. Secondly, a comprehensive survey of the 40 fish auction markets in France brings additional information about the effects of electronic remote bidding on fish prices. The analysis of these two empirical outcomes uses the cross-fertilization of the positivist auction theory in economics with the constructionist approach of Actor-Network Theory (ANT) in sociology to enrich the potential hypotheses lying behind the study of the structural impact of electronic systems on market prices.

Suggested Citation

  • Guillotreau, Patrice & Jiménez-Toribio, Ramón, 2011. "The price effect of expanding fish auction markets," Journal of Economic Behavior & Organization, Elsevier, vol. 79(3), pages 211-225, August.
  • Handle: RePEc:eee:jeborg:v:79:y:2011:i:3:p:211-225
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    Cited by:

    1. Frédéric Salladarré & Patrice Guillotreau & Patrice Loisel & Pierrick Ollivier, 2015. "The declining price anomaly in sequential auctions with asymmetric buyers: Evidence from the Nephrops norvegicus market in France," Working Papers hal-01147207, HAL.
    2. Laurent Gobillon & François Charles Wolff & Patrice Guillotreau, 2013. "Evaluating the law of one price using micro panel data," PSE Working Papers halshs-00849075, HAL.
    3. Gonçalves, Ricardo & Ray, Indrajit, 2017. "Partition Equilibria in a Japanese-English Auction with Discrete Bid Levels for the Wallet Game," CRETA Online Discussion Paper Series 34, Centre for Research in Economic Theory and its Applications CRETA.
    4. Laurent Gobillon & François Charles Wolff & Patrice Guillotreau, 2013. "Evaluating the law of one price using micro panel data," Working Papers halshs-00849075, HAL.
    5. Straume, Hans-Martin, 2013. "Currency invoicing in Norwegian salmon export," Working Papers in Economics 11/13, University of Bergen, Department of Economics.
    6. Asche, Frank & Zhang, Dengjun, 2013. "Testing Structural Changes in the U.S. Whitefish Import Market: An Inverse Demand System Approach," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 42(3), December.
    7. Laurent Gobillon & François-Charles Wolff & Patrice Guillotreau, 2013. "The anatomy of prices on the French fish market," PSE Working Papers halshs-00839147, HAL.
    8. Laurent Gobillon & François-Charles Wolff & Patrice Guillotreau, 2013. "The anatomy of prices on the French fish market," Working Papers halshs-00839147, HAL.
    9. Ray, Indrajit & Gonçalves, Ricardo, 2016. "Equilibria in a Japanese-English Auction with Discrete Bid Levels for the Wallet Game," Cardiff Economics Working Papers E2016/13, Cardiff University, Cardiff Business School, Economics Section.

    More about this item

    Keywords

    Auction markets Electronic systems Fish prices;

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices
    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery

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