Transaction costs and market institutions: grain brokers in Ethiopia
This paper examines the effect of transaction costs of search on the institution of grain brokers in Ethiopia. Primary data are used to derive traders’ shadow opportunity costs of labor and of capital from IV estimation of net profits. A two-step Tobit model is used in which traders first choose whe...
| Autor principal: | |
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| Formato: | Artículo preliminar |
| Lenguaje: | Inglés |
| Publicado: |
International Food Policy Research Institute
1999
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| Materias: | |
| Acceso en línea: | https://hdl.handle.net/10568/161364 |
| _version_ | 1855528650385915904 |
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| author | Gabre-Madhin, Eleni Zaude |
| author_browse | Gabre-Madhin, Eleni Zaude |
| author_facet | Gabre-Madhin, Eleni Zaude |
| author_sort | Gabre-Madhin, Eleni Zaude |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | This paper examines the effect of transaction costs of search on the institution of grain brokers in Ethiopia. Primary data are used to derive traders’ shadow opportunity costs of labor and of capital from IV estimation of net profits. A two-step Tobit model is used in which traders first choose where to trade and then choose whether to use a broker to search on their behalf. The results confirm traders’ individual rationality in choosing brokerage, showing high transaction costs are linked to increased broker use while high social capital reduces broker use. |
| format | Artículo preliminar |
| id | CGSpace161364 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 1999 |
| publishDateRange | 1999 |
| publishDateSort | 1999 |
| publisher | International Food Policy Research Institute |
| publisherStr | International Food Policy Research Institute |
| record_format | dspace |
| spelling | CGSpace1613642025-11-06T06:34:27Z Transaction costs and market institutions: grain brokers in Ethiopia Gabre-Madhin, Eleni Zaude grain economic aspects prices trade governance This paper examines the effect of transaction costs of search on the institution of grain brokers in Ethiopia. Primary data are used to derive traders’ shadow opportunity costs of labor and of capital from IV estimation of net profits. A two-step Tobit model is used in which traders first choose where to trade and then choose whether to use a broker to search on their behalf. The results confirm traders’ individual rationality in choosing brokerage, showing high transaction costs are linked to increased broker use while high social capital reduces broker use. 1999 2024-11-21T09:55:12Z 2024-11-21T09:55:12Z Working Paper https://hdl.handle.net/10568/161364 en Open Access application/pdf International Food Policy Research Institute Gabre-Madhin, Eleni Zaude. 1999. Transaction costs and market institutions;grain brokers in Ethiopia. MTID Discussion Paper 31. https://hdl.handle.net/10568/161364 |
| spellingShingle | grain economic aspects prices trade governance Gabre-Madhin, Eleni Zaude Transaction costs and market institutions: grain brokers in Ethiopia |
| title | Transaction costs and market institutions: grain brokers in Ethiopia |
| title_full | Transaction costs and market institutions: grain brokers in Ethiopia |
| title_fullStr | Transaction costs and market institutions: grain brokers in Ethiopia |
| title_full_unstemmed | Transaction costs and market institutions: grain brokers in Ethiopia |
| title_short | Transaction costs and market institutions: grain brokers in Ethiopia |
| title_sort | transaction costs and market institutions grain brokers in ethiopia |
| topic | grain economic aspects prices trade governance |
| url | https://hdl.handle.net/10568/161364 |
| work_keys_str_mv | AT gabremadhinelenizaude transactioncostsandmarketinstitutionsgrainbrokersinethiopia |