By Charles Noussair, Steven Tucker
Comprised of 10 surveys by way of major students, this assortment showcases the most important and quickest growing to be strands of analysis on marketplace behaviour in experimental economics.
- Covers subject matters comparable 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 the way markets operate
- Assesses the influence of advancements in conception, coverage, and learn methods
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Extra resources for A collection of surveys on market experiments
And Schmidt, K. (2007) Fairness and contract design. Econometrica 75: 121–154. , Goette, L. and Zehnder, C. (2009) A behavioral account of the labor market: the role of fairness concerns. Annual Review of Economics 1: 355–384. G¨achter, S. and Th¨oni, C. (2010) Social comparison and performance: experimental evidence on the fair wage-effort hypothesis. Journal of Economic Behavior & Organization 76: 531–543. , Nosenzo, D. and Sefton, M. (2012) The impact of social comparisons on reciprocity. Scandinavian Journal of Economics 114: 1346–1367.
These laboratory economies always converged to a tˆatonnementstable equilibrium price that was unstable under Mashallian dynamics. Crockett et al. (2011) fueled strong income effects with more conventional preferences by inducing the Gale (1963) economy in a laboratory double auction. 7 Thus subjects were induced to view x and y as perfect complements with a strong taste for their predominantly endowed good, a recipe for large income effects. The net supply and demand curves for good x look similar to D and S2 in Figure 2, but they are convex rather than linear and never cross the price axis.
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.
A collection of surveys on market experiments by Charles Noussair, Steven Tucker