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Behaviour of a Small Political Call Market

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Author Info
Klaus Beckmann (Universitaet Passau)
Martin Werding (Universitaet Passau)

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Abstract

We present a preliminary overview of a political stock market experiment we have conducted at the Universitaet Passau. This experiment differs from previous work (e.g. the renowned Iowa Electronic Markets) in that it is built on the call market institution rather than on double auction principles. The predictions (for the Bavarian state election in Germany) derived from our market are less accurate than those typically achieved by double auction markets. We suggest, and discuss, a number of reasons for this, outlining some directions for research on our second, and more substantial, political stock market for the German Bundestag election.

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Publisher Info
Paper provided by EconWPA in its series Experimental with number 9410001.

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Length: 25 pages
Date of creation: 11 Oct 1994
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Handle: RePEc:wpa:wuwpex:9410001

Note: 25 pages, Postscript file
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Web page: http://129.3.20.41

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Find related papers by JEL classification:
C9 - Mathematical and Quantitative Methods - - Design of Experiments

References listed on IDEAS
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  1. Madhavan, Ananth, 1992. " Trading Mechanisms in Securities Markets," Journal of Finance, American Finance Association, vol. 47(2), pages 607-41, June. [Downloadable!] (restricted)
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