Market institutions and price discovery
著者
書誌事項
Market institutions and price discovery
(Economists of the twentieth century, . Collected papers on the experimental foundations of economics and political science ; v. 2)
E. Elgar, c2001
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注記
Includes bibliographical references and index
内容説明・目次
内容説明
This outstanding collection spanning three decades comprises a superb selection of Charles R. Plott's work in experimental economics. Market Institutions and Price Discovery contains papers which define problems, create laboratory methodology and produce the first results in many areas of experimental economics.Primarily, the volume attempts to explain what is learned from applications of experimental methods, using examples taken from the first stages of the early experimental literature. It goes on to include the first applications of newly developed laboratory methods to matters of national policy, and progresses to examine institutions such as the posted price and to other more complex institutions including opportunities for conspiracy.
The focus then shifts to explore the process through which markets find a price, and then discusses the double auction which has enabled experiments to be used to study more complex environments than the single market experiments that existed formerly. The principles of stability are then used in an attempt to learn more about the dynamics of how markets adjust.
This pathbreaking volume will be of enormous interest to academics, scholars and researchers involved in experimental economics, the methodology of economics, political theory, and political economy.
目次
Contents: Acknowledgements Introduction Part I: Introduction and Overviews Part II: Market Institutions, Facilitating Practices and Industrial Organization Part III: Nature of Equilibrium: Price Discovery, Expectations and Stability Index
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