In this article, I report the results of a study of the prices paid by
individual buyers at the Fulton fish market in New York City. In prin
ciple, this is a highly competitive market in which there should be no
predictable price differences across customers who are equally costly
to service. The results indicate that different buyers pay different
prices for fish of identical quality. For example, Asian buyers pay 7%
less for whiting than do white buyers, a result which is inconsistent
with the model of perfect competition.