Evaluating the Law of one Price Using Micro Panel Data: The Case of the French Fish Market
Laurent Gobillon
(1, 2, 3)
,
François-Charles Wolff
(4, 5)
Laurent Gobillon
- Fonction : Auteur
- PersonId : 743074
- IdHAL : laurent-gobillon
- ORCID : 0000-0003-4849-7397
- IdRef : 105651346
François-Charles Wolff
- Fonction : Auteur
- PersonId : 1326016
- IdHAL : francois-charles-wolff
- ORCID : 0009-0009-6815-1888
- IdRef : 12291127X
Résumé
This paper investigates spatial variations in product prices using an exhaustive micro dataset on fish transactions. The data includes all transactions between vessels and wholesalers that occurred within local fish markets in France during 2007. Spatial disparities in fish prices are sizable even after taking into account fish quality, time, and unobserved seller and buyer heterogeneity. The price difference between local fish markets can be explained to some extent by distance, but mostly by a coast effect related to market locations on the Atlantic and Mediterranean coasts. We also propose a new approach for identifying groups of interconnected local fish markets based on the activity of sellers and buyers within these markets. We show that most markets on the Atlantic coast are well connected, and that variation in prices across these markets is very small and in line with the law of one price.
Domaines
Economies et financesFormat du dépôt | Notice |
---|---|
Type de dépôt | Article dans une revue |
Titre |
en
Evaluating the Law of one Price Using Micro Panel Data: The Case of the French Fish Market
|
Résumé |
en
This paper investigates spatial variations in product prices using an exhaustive micro dataset on fish transactions. The data includes all transactions between vessels and wholesalers that occurred within local fish markets in France during 2007. Spatial disparities in fish prices are sizable even after taking into account fish quality, time, and unobserved seller and buyer heterogeneity. The price difference between local fish markets can be explained to some extent by distance, but mostly by a coast effect related to market locations on the Atlantic and Mediterranean coasts. We also propose a new approach for identifying groups of interconnected local fish markets based on the activity of sellers and buyers within these markets. We show that most markets on the Atlantic coast are well connected, and that variation in prices across these markets is very small and in line with the law of one price.
|
Auteur(s) |
Laurent Gobillon
1, 2, 3
, François-Charles Wolff
4, 5
1
PSE -
Paris School of Economics
( 301309 )
- 48 boulevard Jourdan 75014 Paris
- France
2
PSE -
Paris-Jourdan Sciences Economiques
( 139754 )
- 48 boulevard Jourdan 75014 Paris
- France
3
CEPR -
Center for Economic Policy Research
( 143559 )
- Royaume-Uni
4
LEMNA -
Laboratoire d'économie et de management de Nantes Atlantique
( 95496 )
- Chemin de la Censive du Tertre - Bâtiment Erdre - BP 52231 - 44322 NANTES Cedex 3 - FRANCE
- France
5
INED -
Institut national d'études démographiques
( 57627 )
- Campus Condorcet
9, cours des Humanités - CS 50004
93322 Aubervilliers Cedex
- France
|
Langue du document |
Anglais
|
Nom de la revue |
|
Vulgarisation |
Non
|
Comité de lecture |
Oui
|
Audience |
Internationale
|
Date de publication |
2016-01
|
Volume |
98
|
Numéro |
1
|
Page/Identifiant |
134-153
|
Domaine(s) |
|
Mots-clés (JEL) |
|
Financement |
|
Mots-clés |
en
Commodity price, disparities, fish, law of one price, local markets, nested fixed effects, panel, unobserved heterogeneity
|
DOI | 10.1093/ajae/aav008 |
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