Ethnic Diversity and Market Mechanism: A Trading Pit Market Experiment in Kenya

DOI
  • Shimomura Ken-Ichi
    Research Institute for Economics and Business Administration, Kobe University
  • Yamatob Takehiko
    Department of Industrial Engineering and Economics, Tokyo Institute of Technology

Bibliographic Information

Other Title
  • 民族多様性と市場メカニズムに関する実験研究：ケニアにおける相対取引実験

Abstract

<p>In this research, we conducted a face-to-face trading pit market experiment in Kenya to investigate how ethnic diversity in market participants affects the performance of market mechanism. The subjects in our experiment were from three major ethnic groups in Kenya-Luo, Kikuyu, and Kalenjin. In the trading sessions with Luo and/or Kikuyu subjects only, we did not observe convergence of trading prices or allocations. In the trading sessions including Kalenjin subjects who were generally described as conservative and cautious, however, trading prices and allocations converged to the equitable equilibrium. Our results suggest that ethnic differences may have a large impact on outcomes of market trading, but even the face-to-face bilateral trading between people of different ethnic groups does not necessarily cause large inequalities of income or welfare.</p>

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Details 詳細情報について

  • CRID
    1390564238073443712
  • NII Article ID
    130007583623
  • DOI
    10.11167/jbef.11.96
  • ISSN
    21853568
  • Text Lang
    ja
  • Data Source
    • JaLC
    • CiNii Articles
    • KAKEN
  • Abstract License Flag
    Disallowed

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