A collection of surveys on market experiments by Charles Noussair, Steven Tucker

By Charles Noussair, Steven Tucker

Comprised of 10 surveys by way of best students, this assortment showcases the biggest and quickest transforming into strands of analysis on marketplace behaviour in experimental economics. 

  • Covers themes corresponding to asset markets, contests, environmental coverage, frictions, common equilibrium, labour markets, multi-unit auctions, oligopoly markets, and prediction markets
  • Focuses at the literature that has helped economists top know how markets operate
  • Assesses the influence of advancements in thought, coverage, and learn methods

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1988) Fairness and unemployment. American Economic Review 78: 44–49. A. L. (1990) The fair wage-effort hypothesis and unemployment. Quarterly Journal of Economics 105: 255–283. Bardsley, N. (2008) Dictator game giving: altruism or artefact? Experimental Economics 11: 122–133. F. (1999) Why Wages Don’t Fall During a Recession. Cambridge, MA: Harvard University Press. , Ruffle, B. and Ganun, Y. (2012) Are income and consumption taxes ever really equivalent? Evidence from a real-effort experiment with real goods.

North Holland: Elsevier. , Frechette, G. and Kagel, J. (2004) How robust is laboratory gift exchange?. Experimental Economics 7: 189–205. , Looney, A. and Kroft, K. (2009) Salience and taxation: theory and evidence. American Economic Review 99: 1145–1177. D. A. (1993) Experimental Economics. Princeton, NJ: Princeton University Press. , Oechssler, J. and Vadovic, R. (2012) Sick pay provision in experimental labor markets. European Economic Review 56: 1–19. Dufwenberg, M. and Kirchsteiger, G. (2004) A theory of sequential reciprocity.

This result turned out to be remarkably robust, and has been replicated hundreds if not thousands of times at laboratories around the world. Plott (2008b) reports some emergent stylized facts from these induced value/cost double auction experiments, perhaps most importantly the “sawtooth” pattern of price convergence represented in Figure 1 (this figure has been reproduced from p. 17 of Plott and Smith (2008) with permission from the publisher). The figure depicts transaction prices over time; a vertical line indicates a point in time at which one period ended and another began.

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