Staff Publications

Staff Publications

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    'Staff publications' is the digital repository of Wageningen University & Research

    'Staff publications' contains references to publications authored by Wageningen University staff from 1976 onward.

    Publications authored by the staff of the Research Institutes are available from 1995 onwards.

    Full text documents are added when available. The database is updated daily and currently holds about 240,000 items, of which 72,000 in open access.

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Record number 432077
Title Does Market Experience Promote Rational Choice? Experimental Evidence from Rural Ethiopia
Author(s) Cecchi, F.; Bulte, E.H.
Source Economic Development and Cultural Change 61 (2013)2. - ISSN 0013-0079 - p. 407 - 429.
DOI https://doi.org/10.1086/668275
Department(s) Development Economics Group
WASS
Publication type Refereed Article in a scientific journal
Publication year 2013
Keyword(s) behavior - rules - garp
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 Generalized Axiom of Revealed Preference (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.
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