Posted Offer Markets in Near-Continuous Time: An Experimental Investigation.
This paper reports an experiment conducted to evaluate a “near-continuous” variant of the posted offer trading institution, where the number of periods in a market session is increased by reducing sharply each period's maximum length. Experimental results suggest that although decisions in time-trun...
| Publicado en: | Economic Inquiry Vol. 47; no. 3; pp. 449 - 467 |
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| Autores principales: | , |
| Formato: | Artículo |
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Wiley-Blackwell
July 2009
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=510823471&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 510823471 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00952583 EIQ jtl: Economic Inquiry issn: 00952583 maglogo: N pubinfo: dt: July 2009 vid: 47 iid: 3 pid: 480 pub: Wiley-Blackwell artinfo: ui: 510823471 10.1111/j.1465-7295.2007.00109.x ppf: 449 ppct: 18 formats: fmt: – @attributes: type: T – @attributes: type: P size: 1.4MB tig: atl: Posted Offer Markets in Near-Continuous Time: An Experimental Investigation. aug: au: Davis, Douglas D. Korenok, Oleg su: Experimental economics Mathematical models of pricing sug: subj: Experimental economics Mathematical models of pricing ab: This paper reports an experiment conducted to evaluate a “near-continuous” variant of the posted offer trading institution, where the number of periods in a market session is increased by reducing sharply each period's maximum length. Experimental results suggest that although decisions in time-truncated periods are not equivalent to periods of longer duration, extensive repetition improves considerably the drawing power of equilibrium predictions in some challenging environments. Nevertheless, significant deviations remain in the near-continuous framework. We also observe that the extra data collected in the near-continuous framework allow new insights into price convergence and signaling. (JEL C92, L12, L11) Reprinted by permission of the publisher. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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