Advances in Experimental Markets - download pdf or read online

By Timothy N. Cason, Charles Noussair (auth.), Prof. Timothy Cason, Associate Prof. Charles Noussair (eds.)

ISBN-10: 3642564488

ISBN-13: 9783642564482

ISBN-10: 3642626572

ISBN-13: 9783642626579

Experimental equipment at the moment are a mainstream empirical technique in economics. The papers during this quantity symbolize a few fresh advancements in learn on experimental markets. The articles span numerous themes regarding experimental markets, together with auctions, taxation, institutional changes, coordination in markets, and studying. individuals to the amount contain a number of the such a lot distinctive researchers within the area.

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Ruffie for a given price. The best-response function reveals that there does not exist a pure-strategy Nash equilibrium (PSNE) in prices for this model. 05 where qt (1) qt is firm i' s sales which are ::; its choice of quantity. 20 as long as he is able to sell 3 or more units of production. 20. 20 she reduces seller i's sales to two units. 01. 19 and selling four units. Given seller j's symmetric best-response function, there does not exist a pair of prices such that neither seller cannot increase its profits by changing its price.

The experiments conducted here examine fairness directly in a posted-offer market. 1 Posted-offer institution The experimental implementation of the posted-offer institution has been carried out using the NovaNet (PLATO) software. 5 Subjects are randomly assigned to the role of either buyer or seller. Each period consists of the following sequence of events. Sellers simultaneously decide on a price, followed by a quantity to make available at that price (up to their capacities). After all sellers have made a price and quantity choice for the period, each seller's price (but not quantity) is revealed to the buyers and all other sellers.

J. Ruffle earnings inequality more salient to buyers in an attempt to incite them to forego profitable purchases. I thus refer to the high-level information condition as the fairness condition (F). Since we are interested in the ability of buyers to withhold demand, the model to be tested is constructed to hold constant across treatments the buyers' side of the market to the extent possible. In this manner, differences in observed levels of demand withholding (and seller pricing) across treatments can be attributed to changes in the levels of the treatment variables, as opposed to variations in the design in moving from one treatment to another.

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Advances in Experimental Markets by Timothy N. Cason, Charles Noussair (auth.), Prof. Timothy Cason, Associate Prof. Charles Noussair (eds.)

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