000102523 001__ 102523
000102523 005__ 20250221175223.0
000102523 0247_ $$2doi$$a10.22004/ag.econ.102523
000102523 037__ $$a595-2016-39982
000102523 041__ $$aeng
000102523 245__ $$aPROPERTY RIGHTS IN A FLEA MARKET ECONOMY
000102523 260__ $$c1999-03
000102523 269__ $$a1999-03
000102523 300__ $$a44
000102523 336__ $$aWorking or Discussion Paper
000102523 490__ $$aMSSD paper
000102523 490__ $$a27
000102523 520__ $$aThis paper studies liberalized grain markets in Madagascar and examines how property
rights are protected and contracts are enforced among agricultural traders. We find
that the incidence of theft and breach of contract is low and that the losses resulting from
such instances are small. This, however, does not result from reliance on legal institutions
-- actual recourse to police and courts is fairly rare, except in cases of theft -- but from
traders’ reluctance to expose themselves to opportunism. As a result, Malagasy grain
trade resembles a flea market, with little or no forward contracting and high transactions
costs. The dominant contract enforcement mechanism is trust-based relationships. Trust
is established primarily through repeated interaction with little role for referral by other
traders. Information on bad clients does not circulate widely, hence severely limiting
group punishments for non payment.
000102523 546__ $$aEnglish
000102523 650__ $$aMarketing
000102523 650__ $$aResource/Energy Economics and Policy
000102523 700__ $$aFafchamps, Marcel
000102523 700__ $$aMinten, Bart
000102523 8564_ $$93603add9-877a-4d11-aa67-c607a3fbd76e$$s122682$$uhttps://ageconsearch.umn.edu/record/102523/files/Property%20rights%20in%20a%20flea%20market%20economy.pdf
000102523 887__ $$ahttp://purl.umn.edu/102523
000102523 909CO $$ooai:ageconsearch.umn.edu:102523$$pGLOBAL_SET
000102523 912__ $$nSubmitted by Janelle Andersen (ande9439@umn.edu) on 2011-04-11T16:26:01Z
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Property rights in a flea market economy.pdf: 122682 bytes, checksum: 65dfba996d460fc5dd04223a616d2ae5 (MD5)
000102523 912__ $$nMade available in DSpace on 2011-04-11T16:26:03Z (GMT). No. of bitstreams: 1
Property rights in a flea market economy.pdf: 122682 bytes, checksum: 65dfba996d460fc5dd04223a616d2ae5 (MD5)
  Previous issue date: 1999-03
000102523 913__ $$aLicense granted by Janelle Andersen (ande9439@umn.edu) on 2011-04-11T16:23:33Z (GMT):

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000102523 980__ $$a595
000102523 982__ $$gInternational Food Policy Research Institute>MSSD Discussion Papers