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Price Formation in Double Auctions

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Author Info
Gjerstad, S.
Dickhaut, J.

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Abstract

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Publisher Info
Paper provided by Minnesota - Center for Economic Research in its series Papers with number 284.

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Length: 27 pages
Date of creation: 1995
Date of revision:
Handle: RePEc:fth:minner:284

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Postal: UNIVERSITY OF MINNESOTA, CENTER FOR ECONOMIC RESEARCH, DEPARTMENT OF ECONOMICS, MINNEAPOLIS MINNESOTA 35455 U.S.A.
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Fax: (612)624-0209
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Web page: http://www.econ.umn.edu/
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Related research
Keywords: PRICING; AUCTIONS;

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Find related papers by JEL classification:
G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Hurwicz, Leonid & Radner, Roy & Reiter, Stanley, 1975. "A Stochastic Decentralized Resource Allocation Process: Part II," Econometrica, Econometric Society, vol. 43(3), pages 363-93, May. [Downloadable!] (restricted)
    Other versions:
  2. Vernon L. Smith, 1962. "An Experimental Study of Competitive Market Behavior," Journal of Political Economy, University of Chicago Press, vol. 70, pages 322. [Downloadable!] (restricted)
    Other versions:
  3. Steven Gjerstad & Jason Shachat, 1996. "A General Equilibrium Structure for Induced Supply and Demand," University of California at San Diego, Economics Working Paper Series 96-35, Department of Economics, UC San Diego. [Downloadable!]
  4. Gjerstad, S. & Dickhaut, J., 1995. "Price Formation in Double Auctions," Papers 284, Minnesota - Center for Economic Research.
    Other versions:
  5. Gode, Dhananjay K & Sunder, Shyam, 1993. "Allocative Efficiency of Markets with Zero-Intelligence Traders: Market as a Partial Substitute for Individual Rationality," Journal of Political Economy, University of Chicago Press, vol. 101(1), pages 119-37, February. [Downloadable!] (restricted)
  6. Cason, Timothy N. & Friedman, Daniel, 1996. "Price formation in double auction markets," Journal of Economic Dynamics and Control, Elsevier, vol. 20(8), pages 1307-1337, August. [Downloadable!] (restricted)
    Other versions:
  7. Plott, Charles R, 1982. "Industrial Organization Theory and Experimental Economics," Journal of Economic Literature, American Economic Association, vol. 20(4), pages 1485-1527, December. [Downloadable!] (restricted)
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Marco LiCalzi & Paolo Pellizzari, 2008. "Zero-Intelligence Trading without Resampling," Working Papers 164, Department of Applied Mathematics, University of Venice. [Downloadable!]
  2. Steven Gjerstad, 2007. "Price Dynamics in an Exchange Economy," Purdue University Economics Working Papers 1205, Purdue University, Department of Economics. [Downloadable!]
  3. Steven Gjerstad, 2004. "The Strategic Impact of Pace in Double Auction Bargaining," Econometric Society 2004 North American Winter Meetings 190, Econometric Society. [Downloadable!]
    Other versions:
  4. Steven Gjerstad & Jason M. Shachat, 2007. "Individual Rationality and Market Efficiency," Purdue University Economics Working Papers 1204, Purdue University, Department of Economics. [Downloadable!]
  5. Wheatley, W. Parker & Buhr, Brian & Dipietre, Dennis, 2001. "E-Commerce In Agriculture: Development, Strategy, And Market Implications," Staff Papers 13938, University of Minnesota, Department of Applied Economics. [Downloadable!]
  6. Carsten Schmidt & Jens Grossklags, 2004. "Interaction of Human and Artificial Agents on Double Auction Markets - Simulations and Laboratory Experiments," Papers on Strategic Interaction 2003-22, Max Planck Institute of Economics, Strategic Interaction Group. [Downloadable!]
  7. Carlén, Björn, 1999. "Large-Country Effects in International Emissions Trading: A Laboratoty Test," Research Papers in Economics 1999:15, Stockholm University, Department of Economics.
  8. Gjerstad, S., 2006. "The Competitive Market Paradox," Purdue University Economics Working Papers 1180, Purdue University, Department of Economics. [Downloadable!]
    Other versions:
  9. John Duffy, 2004. "Agent-Based Models and Human Subject Experiments," Computational Economics 0412001, EconWPA. [Downloadable!]
    Other versions:
  10. Kirchsteiger, G. & Niederle, M. & Potters, J., 2001. "Public versus private exchanges," Discussion Paper 101, Tilburg University, Center for Economic Research. [Downloadable!]
  11. Steven Gjerstad, 2004. "Market Dynamics in Edgeworth Exchange," Microeconomics 0401006, EconWPA. [Downloadable!]
  12. Brewer, Paul J. & Huang, Maria & Nelson, Brad & Plott, Charles R., 1999. "On the Behavioral Foundations of the Law of Supply and Demand: Human Rationality vs. Randomness," Working Papers 1079, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
  13. Kirchsteiger, G. & Niederle, M. & Potters, J., 1998. "The endogenous evolution of market institutions an experimental investigation," Discussion Paper 67, Tilburg University, Center for Economic Research. [Downloadable!]
  14. Paul Brewer & Maria Huang & Brad Nelson & Charles Plott, 2002. "On the Behavioral Foundations of the Law of Supply and Demand: Human Convergence and Robot Randomness," Experimental Economics, Springer, vol. 5(3), pages 179-208, December. [Downloadable!] (restricted)
  15. Steven Gjerstad & Jason Shachat, 2003. "The Edgeworth exchange formulation of bargaining models and market experiments," Microeconomics 0304004, EconWPA. [Downloadable!]
  16. Steven Gjerstad & John Dickhaut, 2003. "Price Formation in Double Auctions," Microeconomics 0302001, EconWPA. [Downloadable!]
    Other versions:
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