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Questions and Answers
Reduced search costs would not lead to more arbitrage unless it affected the ability to sustain such ______
Reduced search costs would not lead to more arbitrage unless it affected the ability to sustain such ______
constraints
In the region of study, fishermen reported no such ______ on fish marketing during this period
In the region of study, fishermen reported no such ______ on fish marketing during this period
constraints
For example, with a linear demand curve, P ⫽ a ⫺ bQ, the percent increase in welfare from arbitrage is given by Xb(Q H ⫺ Q L ⫺ X)/(a(Q H ⫹ Q L ) ⫺.5b(Q 2L ⫹ Q 2H )). If a ⫽ 10, b ⫽.1, QL ⫽ 1, and QH ⫽ 9, the gain ranges from 12 percent when one fish is arbitraged to 27 percent when ______ fish are arbitraged (though we must subtract transportation costs)
For example, with a linear demand curve, P ⫽ a ⫺ bQ, the percent increase in welfare from arbitrage is given by Xb(Q H ⫺ Q L ⫺ X)/(a(Q H ⫹ Q L ) ⫺.5b(Q 2L ⫹ Q 2H )). If a ⫽ 10, b ⫽.1, QL ⫽ 1, and QH ⫽ 9, the gain ranges from 12 percent when one fish is arbitraged to 27 percent when ______ fish are arbitraged (though we must subtract transportation costs)
four
Consider the case with zero search costs and perfect information; in equilibrium, the price difference between the markets is /x̃, where x̃ is the catch of the marginal fisherman who ______
Consider the case with zero search costs and perfect information; in equilibrium, the price difference between the markets is /x̃, where x̃ is the catch of the marginal fisherman who ______
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Then the area of rectangle C above P(QH – X) (i.e., the top point of the quasi-trapezoid E⫹F) is (X/x̃). Note that (X/x̃) is greater than the total number of ______ who switch markets
Then the area of rectangle C above P(QH – X) (i.e., the top point of the quasi-trapezoid E⫹F) is (X/x̃). Note that (X/x̃) is greater than the total number of ______ who switch markets
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the ______ barked
the ______ barked
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the ______ meowed
the ______ meowed
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Fishermen may collude to punish buyers who purchase from nonlocal fishermen, buyers may collude to punish fishermen who sell outside their local market, or there may be interlinked transactions, such as when a fisherman receives credit from a buyer and in exchange must always sell to them (as seen in Giné and Klonner and Platteua ). In these cases, reduced search costs would not lead to more arbitrage unless it affected the ability to sustain such ______. Answer
Fishermen may collude to punish buyers who purchase from nonlocal fishermen, buyers may collude to punish fishermen who sell outside their local market, or there may be interlinked transactions, such as when a fisherman receives credit from a buyer and in exchange must always sell to them (as seen in Giné and Klonner and Platteua ). In these cases, reduced search costs would not lead to more arbitrage unless it affected the ability to sustain such ______. Answer
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Then the area of rectangle C above P(QH – X) (i.e., the top point of the quasi-trapezoid E⫹F) is (X/x̃). Note that (X/x̃) is greater than the total number of ______ who switch markets. Answer
Then the area of rectangle C above P(QH – X) (i.e., the top point of the quasi-trapezoid E⫹F) is (X/x̃). Note that (X/x̃) is greater than the total number of ______ who switch markets. Answer
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For example, with a linear demand curve, P ⫽ a ⫺ bQ, the percent increase in welfare from arbitrage is given by Xb(Q H ⫺ Q L ⫺ X)/(a(Q H ⫹ Q L ) ⫺.5b(Q 2L ⫹ Q 2H )). If a ⫽ 10, b ⫽.1, QL ⫽ 1, and QH ⫽ 9, the gain ranges from 12 percent when one fish is arbitraged to 27 percent when ______ fish are arbitraged (though we must subtract transportation costs). Answer
For example, with a linear demand curve, P ⫽ a ⫺ bQ, the percent increase in welfare from arbitrage is given by Xb(Q H ⫺ Q L ⫺ X)/(a(Q H ⫹ Q L ) ⫺.5b(Q 2L ⫹ Q 2H )). If a ⫽ 10, b ⫽.1, QL ⫽ 1, and QH ⫽ 9, the gain ranges from 12 percent when one fish is arbitraged to 27 percent when ______ fish are arbitraged (though we must subtract transportation costs). Answer
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Consider the case with zero search costs and perfect information; in equilibrium, the price difference between the markets is /x̃, where x̃ is the catch of the marginal fisherman who ______. Answer
Consider the case with zero search costs and perfect information; in equilibrium, the price difference between the markets is /x̃, where x̃ is the catch of the marginal fisherman who ______. Answer
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In the region of study, fishermen reported no such ______ on fish marketing during this period. Answer
In the region of study, fishermen reported no such ______ on fish marketing during this period. Answer
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