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The Boulogne fish market: the social structure and the role of loyalty

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  • Pasquale Cirillo
  • Gabriele Tedeschi
  • Mauro Gallegati

Abstract

We examine the Boulogne wholesale fish market, analysing the structure of the trading network between sellers and buyers. Differently from other works in the literature, our analysis indicates a significant amount of ‘bilateral loyalty’ seller--buyer. Loyalty is from buyers to a few sellers as well as from sellers to a few buyers. We also show that loyalty has an impact on prices, discriminating among agents.

Suggested Citation

  • Pasquale Cirillo & Gabriele Tedeschi & Mauro Gallegati, 2012. "The Boulogne fish market: the social structure and the role of loyalty," Applied Economics Letters, Taylor & Francis Journals, vol. 19(11), pages 1075-1079, July.
    • Handle: RePEc:taf:apeclt:v:19:y:2012:i:11:p:1075-1079
    DOI: 10.1080/13504851.2011.613749
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    References listed on IDEAS

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    1. Kirman, Alan P. & Vriend, Nicolaas J., 2001. "Evolving market structure: An ACE model of price dispersion and loyalty," Journal of Economic Dynamics and Control, Elsevier, vol. 25(3-4), pages 459-502, March.
    2. Cirillo, Pasquale & Hüsler, Jürg, 2009. "On the upper tail of Italian firms’ size distribution," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 388(8), pages 1546-1554.
    3. Weisbuch, Gerard & Kirman, Alan & Herreiner, Dorothea, 2000. "Market Organisation and Trading Relationships," Economic Journal, Royal Economic Society, vol. 110(463), pages 411-436, April.
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    Cited by:

    1. Rocco Caferra & Gabriele Tedeschi & Andrea Morone, 2023. "Agents interaction and price dynamics: evidence from the laboratory," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 18(2), pages 251-274, April.
    2. Ali Ellouze & Bastien Fernandez, 2023. "Dynamics of buyer populations in fresh product markets," Papers 2311.03987, arXiv.org, revised Jul 2024.
    3. 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.
    4. François-Charles Wolff & Frédéric Salladaré & Laurent Baranger, 2024. "A classification of buyers in first-sale fish markets: Evidence from France," Post-Print hal-04586532, HAL.

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