LEADER 07498nam 22006731 450 001 9910822002803321 005 20240401225803.0 010 $a1-118-79070-7 010 $a1-118-79068-5 010 $a1-118-79069-3 035 $a(CKB)2550000001157309 035 $a(SSID)ssj0001040272 035 $a(PQKBManifestationID)11641751 035 $a(PQKBTitleCode)TC0001040272 035 $a(PQKBWorkID)11001527 035 $a(PQKB)10761635 035 $a(DLC) 2013039177 035 $a(Au-PeEL)EBL1527857 035 $a(CaPaEBR)ebr10799612 035 $a(CaONFJC)MIL540352 035 $a(PPN)188693610 035 $a(OCoLC)858975637 035 $a(MiAaPQ)EBC1527857 035 $a(EXLCZ)992550000001157309 100 $a20131107d2014 uy 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt 182 $cc 183 $acr 200 02$aA collection of surveys on market experiments /$fedited by Charles Noussair and Steven Tucker 205 $a1st ed. 210 1$aChichester, West Sussex ;$aMalden, Massachusetts :$cWiley,$d2014. 215 $a1 online resource (298 pages) 300 $aBibliographic Level Mode of Issuance: Monograph 311 $a1-118-79071-5 311 $a1-306-09101-2 320 $aIncludes bibliographical references and index. 327 $aIntro -- A Collection of Surveys on Market Experiments -- CONTENTS -- 1 A COLLECTION OF SURVEYS ON MARKET EXPERIMENTS -- References -- 2 EXPERIMENTAL LABOR MARKETS AND POLICY CONSIDERATIONS: INCOMPLETE CONTRACTS AND MACROECONOMIC ASPECTS -- 1. Introduction -- 2. Experimental Gift-Exchange Labor Markets -- 2.1 Common Features Across Experiments -- 2.2 Fundamental Results -- 2.3 Gift-Exchange Labor Markets and Policy Instruments -- 2.4 Robustness and Extensions of Gift-Exchange Labor Markets -- 2.5 Summary -- 3. Experimental Labor Markets in Macroeconomics and Public Finance -- 4. Conclusions -- Notes -- References -- 3 PRICE DYNAMICS IN GENERAL EQUILIBRIUM EXPERIMENTS -- 1. Introduction -- 2. Price Dynamics in Laboratory Exchange Economies -- 2.1 Across-Period Dynamics -- 2.2 Within-Period Dynamics -- 3. Further Experimental GE Applications -- Acknowledgements -- Notes -- References -- 4 OLIGOPOLY EXPERIMENTS IN THE CURRENT MILLENNIUM -- 1. Introduction -- 2. Oligopoly Competition from a Static Perspective -- 2.1 Simultaneous-Move Quantity and Price Competition -- 2.2 Sequential-Move Games, Timing and Commitment -- 2.3 Innovation and Competition -- 2.4 Price Dispersion -- 3. Dynamics, (non-)Convergence, and Learning Processes -- 3.1 Stability and Convergence of Cournot Markets -- 3.2 Cycles under Price Competition -- 3.3 Feedback, Information and Learning Processes -- 4. Collusion and Policy -- 4.1 Tacit Collusion -- 4.2 Cartels and Competition Policy -- 4.3 Regulation -- 5. Concluding Remarks -- Acknowledgements -- Notes -- References -- 5 MULTIUNIT AUCTIONS -- 1. Introduction -- 2. Multiunit Auctions, Single-Unit Demand -- 2.1 Comparison of Auction Formats Motivated by Spectrum Sales -- 2.2 Other Single-Unit Demand Auctions -- 3. Multiunit Demand, No Synergies -- 3.1 Demand Reduction under Uniform-Price Auctions and Institutional Remedies. 327 $a3.2 Extensions to Asymmetric Bidders and Common Values -- 4. Synergies and Package Bidding -- 4.1 Vickrey-Clarke-Groves (VCG) Auctions -- 4.2 Exposure and Threshold Problems -- 4.3 Comparison of Alternative Auction Mechanisms -- 5. Role of Specific Institutional Features -- 5.1 Bid Withdrawal and Eligibility Rules -- 5.2 Ending Rules -- 5.3 Jump Bidding -- 6. Collusion -- 6.1 Collusion with Explicit Communication -- 6.2 Tacit Collusion -- 7. Sequential Bidding -- 7.1 Auction Formats and Sequencing of Sales -- 7.2 Price Trends in Sequential Auctions -- 8. Conclusions and Open Questions -- 8.1 Comparison of Auction Formats and Alternative Mechanisms -- 8.2 Asymmetric Bidders, Entry, and Competition among Auctions -- 8.3 Behavioral Models of Bidding -- Acknowledgements -- Notes -- References -- 6 OVERBIDDING AND HETEROGENEOUS BEHAVIOR IN CONTEST EXPERIMENTS -- 1. Introduction -- 2. A Simple Contest Model -- 3. Experimental Findings on Contests -- 4. Overbidding in Contests -- 4.1 Bounded Rationality -- 4.2 Utility of Winning -- 4.3 Other-Regarding Preferences -- 4.4 Probability Distortion -- 4.5 The Shape of the Payoff Function -- 4.6 How to Reduce Overbidding -- 5. Heterogeneous Behavior in Contests -- 5.1 Heterogeneous Preferences -- 5.2 Demographic Differences -- 5.3 Learning and Hot Hand -- 5.4 How to Reduce Heterogeneity -- 6. Discussion and Conclusion -- Acknowledgements -- Notes -- References -- 7 ENVIRONMENTAL MARKETS: WHAT DO WE LEARN FROM THE LAB? -- 1. Introduction -- 2. Emission Trading Experiments -- 2.1 Trading Institutions -- 2.2 Uncertainty and Enforcement -- 2.3 Market Power -- 3. Other Environmental Policy Experiments -- 3.1 Water Markets -- 3.2 Conservation Auctions and Agricultural Policy -- 3.3 Other Market Experiments that Inform Environmental Policy -- 4. Conclusion and the Way Forward -- Acknowledgements -- Notes -- References. 327 $a8 EXPERIMENTAL MARKETS WITH FRICTIONS -- 1. Introduction -- 2. Modeling Decentralized Frictional Markets -- 3. A Review of Recent Experimental Work on Markets with Frictions -- 3.1 Peer Punishment -- 3.2 Monetary Exchange -- 3.3 Communication -- 4. Communication in Markets with Frictions: A New Experimental Approach -- 4.1 Experimental Design -- 4.2 Four Results -- 5. Discussion and Conclusions -- Acknowledgements -- Notes -- References -- Supporting Information -- 9 EXPERIMENTAL RESEARCH ON ASSET PRICING -- 1. Introduction -- 2. Early Work -- 3. Market Microstructure -- 4. Parimutuel Betting Markets -- 5. Participant Characteristics -- 5.1 Behavioral Traits -- 5.2 Traders' Emotional States -- 5.3 Trader Strategies -- 6. Public Information Release -- 7. Studies of the Capital Asset Pricing Model -- 8. Conclusion -- Notes -- References -- 10 A REVIEW OF BUBBLES AND CRASHES IN EXPERIMENTAL ASSET MARKETS -- 1. Description of the Baseline Market -- 1.1 Market Design -- 1.2 Typical Price and Volume Patterns -- 2. Stylized Results -- 2.1 Trader Characteristics -- 2.2 Expectations -- 2.3 Asset-to-Cash Ratio -- 2.4 Short-Selling -- 2.5 Dividends -- 2.6 Fundamental Value -- 2.7 Endowments -- 2.8 Taxes and Transaction Costs -- 2.9 Limit Price Change Rule and Asset Holdings Cap -- 2.10 Derivative Instruments -- 2.11 Institution of Exchange -- 2.12 Compensation and Incentives -- 2.13 Social Comparison -- 2.14 Communication -- 2.15 Relative Prices in Multi-Asset Markets -- 3 Conclusion -- Acknowledgements -- Notes -- References -- 11 PREDICTION MARKETS IN THE LABORATORY -- 1. The Success of Markets Aggregating Information -- 2. Comparisons of Predication Markets with Other Mechanisms for Information Aggregation -- 3. How Do Insiders Impact Markets? -- 4. Manipulation -- 5. Future Work -- Notes -- References -- INDEX. 606 $aBusiness 606 $aExperimental economics 606 $aGame theory 606 $aMarkets 615 0$aBusiness. 615 0$aExperimental economics. 615 0$aGame theory. 615 0$aMarkets. 676 $a332.041501 701 $aNoussair$b Charles$0739376 701 $aTucker$b Steven$01715459 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910822002803321 996 $aA collection of surveys on market experiments$94110120 997 $aUNINA