Information Asymmetry in Mauritius Slave Auctions

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Ressource 1Télécharger: BIB_246CAFD87703.P001.pdf (337.69 [Ko])
Etat: Serval
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ID Serval
serval:BIB_246CAFD87703
Type
Rapport: document publié par une institution, habituellement élément d'une série.
Sous-type
Working paper: document de travail dans lequel l'auteur présente les résultats de ses travaux de recherche. Les working papers ont pour but de stimuler les discussions scientifiques avec les milieux intéressés et servent de base pour la publication d'articles dans des revues spécialisées.
Collection
Publications
Titre
Information Asymmetry in Mauritius Slave Auctions
Auteur(s)
Dionne G., St-Amour P., Vencatachellum D.
Institution
Université de Lausanne - HEC - DEEP
Date de publication
09/2006
Numéro
07.06
Genre
Cahiers de recherches économiques
Langue
anglais
Nombre de pages
51
Notes
Published under the title "Asymmetric Information and Adverse Selection in Mauritian Slave Auctions", in: Review of Economic Studies, 76(4), October 2009, pp. 1269-1295
Résumé
Evidence on adverse selection in slave markets remains inconclusive. A necessary prerequisite is that buyers and sellers have different information. We study informational asymmetry on the slave markets through notarial acts on public slave auctions in Mauritius between 1825 and 1835, involving 4,286 slaves. In addition to slave characteristics, the acts document the identities of buyers and sellers. We use this information to determine whether the buyer of a slave was related (e.g. a relative or a spouse) to the original slave owner, and thus most likely better--informed than other bidders. Auction--theoretic models predict that bidding should be more aggressive when informed bidders are present in open-bid, ascending auctions, such as slave auctions. By proxying informed bidders by related bidders, our results consistently indicate that this is the case, pointing toward the presence of information asymmetry in the market for slaves in Mauritius.
Mots-clé
information asymmetry, adverse selection, english auctions, slavery, Mauritius
Création de la notice
30/04/2008 16:07
Dernière modification de la notice
03/03/2018 14:58
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