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A Double Auction Market: Teaching, Experiment and Theory

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Abstract

A simultaneous double auction market with bid and offer cards was utilized in classes on the theory and history of money and financial institutions and occasionally in classes on the theory of games. The prime purpose in using this game was to teach the students how to construct process models of economic phenomena. The second purpose was to consider the properties of the double auction market. The third purpose was to interpret the experimental results an link them to theory.

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File URL: http://cowles.econ.yale.edu/P/cd/d14a/d1443.pdf
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Bibliographic Info

Paper provided by Cowles Foundation for Research in Economics, Yale University in its series Cowles Foundation Discussion Papers with number 1443.

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Length: 21 pages
Date of creation: Oct 2003
Date of revision:
Publication status: Published in Simulation and Gaming (June 2005), 36(2): 166-182
Handle: RePEc:cwl:cwldpp:1443

Note: CFP 1147.
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Postal: Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA

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Keywords: Double auctions; Experimental games; Allocation games; Noncooperative equilibria;

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