Download PDF by Charles Noussair, Steven Tucker: A collection of surveys on market experiments

By Charles Noussair, Steven Tucker

Comprised of 10 surveys by means of top students, this assortment showcases the most important and quickest growing to be strands of analysis on marketplace behaviour in experimental economics. 

  • Covers subject matters similar 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 most sensible know how markets operate
  • Assesses the impression of advancements in idea, coverage, and examine methods

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Early papers in this area, the so-called “non-tˆatonnement literature,” imposed plausible restrictions on individual/aggregate behavior such that all trade operating under these restrictions would necessarily converge to the Pareto set. Exchange generally maintained the “institution-free” structure of GE theory, and there was no mention of laboratory experiments; this literature was written for consumption by theorists. Examples include Hahn and Negishi (1962), Uzawa (1962), Ledyard (1974), Hurwicz et al.

And Puppe, C. (2012) The currency of reciprocity – gift-exchange in the workplace. American Economic Review 102: 1644–1662. A. and Puppe, C. (forthcoming). Do wage cuts damage work morale? Evidence from a natural field experiment. Journal of the European Economic Association. Lazear, E. (1979) Why is There Mandatory Retirement? Journal of Political Economy 87: 1261–1284. Lei, V. N. (2007) Equilibrium selection in an experimental macroeconomy. Southern Economic Journal 74(2): 448–482. K. (1998) Modeling altruism and spitefulness in experiments.

And Riezman, R. (1995) An experimental investigation of the patterns of international trade. American Economic Review 85: 462–491. , Plott, C. and Riezman, R. (2007) Production, trade and exchange rates in large experimental economies. European Economic Review 51: 46–76. , Ponzano, F. and Scacciati, F. (2008) Labour supply in presence of taxation financing public services. An experimental approach. Journal of Economic Psychology 29: 619– 631. , Silva, N. and Silva, J. (2006) Positive and negative reciprocity in the labor market.

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