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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Additional resources for A collection of surveys on market experiments
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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.