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Erwin Bulte, Wageningen U. Print
Tuesday, 10 May 2011, 14:00 - 15:15

Erwin Bulte, Wageningen University

Does Market Experience Promote Rational Choice? Experimental Evidence from Rural Ethiopia

Abstract: We organize a field experiment with sesame farmers and brokers in northern Ethiopia to explore whether market experience fosters "rational behavior'-proxied by fewer GARP violations in a simple choice experiment. In the baseline study, farmers and brokers performed equally well or badly, which is consistent with qualitative evidence that the prior "trading experience" of our brokers is not obtained in a competitive setting. Following random assignment to a competitive market setting - a one-day trading session in a sesame auction - we find that treated farmers and brokers behave more rationally than their peers in the control group.
Location: R 42.2.113
Contact: Claude Adan, This e-mail address is being protected from spam bots, you need JavaScript enabled to view it