摘要：The bargaining process and its role in price discoverywithin the Pacific Northwest asparagus industry is analyzed using ageneral empirical bargaining model. Growers' and processors' inversesupply and demand functions define boundaries for the negotiatedprices. OLS and Heckman's two-stage estimation procedures are usedto estimate a stochastic bargaining model of price determination. Theresults indicate that basic supply and demand forces exert substantialin.uences on the bargaining process. In particular, expected levels ofsupply play a paramount role in the level of prices offered, while pastprices also in.uence current offers. The general framework of analysisused in relation to asparagus can be generalized to other commoditieswhere bargaining plays a role in price discovery. The model can be usedto investigate the extent to which major economic forces impactbargaining behavior.
