Allocation decisions in many natural resource markets are governed by mechanisms designed to alleviate information asymmetries and other types of market imperfections. For example, the crew in most commercial fisheries is remunerated via a lay system of payments designed to alleviate a
In agricultural labor exchange, farmers temporarily pool their labor into teams and complete a task on each team member’s plot in succession. Labor time is exchanged between team members under strict reciprocity and without pay. The use of agricultural labor exchange in
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