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A Note on the Experimental Study of Markets

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  • Giovanna Devetag

Abstract

[eng] This paper reviews a small selection of experimental studies on markets and tries to highlight the role that laboratory experimentation can have in helping identify the behavioral and institutional factors determining market efficiency. The paper compares two partly distinct traditions of experimental research, the former dealing with the efficiency properties of alternative trading institutions, the latter studying more abstract coordination problems that arise in the presence of multiple markets and decentralized decisions. Some methodological issues are also briefly addressed. [fre] Cet article analyse une sélection d'études expérimentales sur les marchés et met en évidence le rôle que les expérimentations de laboratoire peuvent avoir en permettant d'identifier les facteurs comportementaux et institutionnels conditionnant l'efficience des marchés. L'article compare deux traditions de la recherche expérimentale ; la première analysant les propriétés d'efficience d'institutions d'échanges alternatifs, la seconde étudiant les problèmes de coordination plus abstraits qui émergent en présence de marchés multiples et de décisions décentralisées. L'article aborde aussi les questions méthodologiques soulevées par ces approches.

Suggested Citation

  • Giovanna Devetag, 2004. "A Note on the Experimental Study of Markets," Revue d'Économie Industrielle, Programme National Persée, vol. 107(1), pages 75-87.
  • Handle: RePEc:prs:recind:rei_0154-3229_2004_num_107_1_3049
    DOI: 10.3406/rei.2004.3049
    Note: DOI:10.3406/rei.2004.3049
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