Pricing heterogeneity and transaction mode: Evidence from the French fish market

While information technology has led to increased market integration, in many markets there are still significant heterogeneity associated with factors such as product characteristics, location, lots, transaction mode and buyer seller characteristics. Using a data set of 40 million observations up-streams fish sales Atlantic France, we use the rich attribute investigate extent which price differences highly heterogenous can be explained, particular focus on importance mode. 78% quantity is sold at auctions, remainder over-the-counter transactions this share increasing. Estimation hedonic regressions controlling for attributes, local market, show that differential 1.7% between two modes. This result remains robust when taking into account endogeneity sale method through an exact matching auction transactions.