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Relevance of Laboratory Experiments to Testing Resource Allocation Theory

In: Evaluation of Econometric Models

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  • Vernon L. Smith

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Suggested Citation

  • Vernon L. Smith, 1980. "Relevance of Laboratory Experiments to Testing Resource Allocation Theory," NBER Chapters,in: Evaluation of Econometric Models, pages 345-377 National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberch:11710
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    File URL: http://www.nber.org/chapters/c11710.pdf
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    References listed on IDEAS

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    1. Ross M. Miller & Charles R. Plott & Vernon L. Smith, 1977. "Intertemporal Competitive Equilibrium: An Empirical Study of Speculation," The Quarterly Journal of Economics, Oxford University Press, vol. 91(4), pages 599-624.
    2. Plott, Charles R & Levine, Michael E, 1978. "A Model of Agenda Influence on Committee Decisions," American Economic Review, American Economic Association, vol. 68(1), pages 146-160, March.
    3. William Vickrey, 1961. "Counterspeculation, Auctions, And Competitive Sealed Tenders," Journal of Finance, American Finance Association, vol. 16(1), pages 8-37, March.
    4. Hess, Alan C, 1972. "Experimental Evidence on Price Formation in Competitive Markets," Journal of Political Economy, University of Chicago Press, vol. 80(2), pages 375-385, March-Apr.
    5. Roger Sherman, 1974. "The Psychological Difference Between Ambiguity and Risk," The Quarterly Journal of Economics, Oxford University Press, vol. 88(1), pages 166-169.
    6. Kenneth J. Arrow & William M. Capron, 1959. "Dynamic Shortages and Price Rises: The Engineer-Scientist Case," The Quarterly Journal of Economics, Oxford University Press, vol. 73(2), pages 292-308.
    7. Vernon L. Smith, 1964. "Effect of Market Organization on Competitive Equilibrium," The Quarterly Journal of Economics, Oxford University Press, vol. 78(2), pages 181-201.
    8. McDonald, John G & Jacquillat, Bertrand C, 1974. "Pricing of Initial Equity Issues: The French Sealed-Bid Auction," The Journal of Business, University of Chicago Press, vol. 47(1), pages 37-47, January.
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    Cited by:

    1. Chris Starmer, 1999. "Experiments in economics: should we trust the dismal scientists in white coats?," Journal of Economic Methodology, Taylor & Francis Journals, vol. 6(1), pages 1-30.
    2. Mark Van Boening & Tanja F. Blackstone & Michael McKee & Elisabet Rutstrom, 2006. "Benefit packages and individual behavior: choices over discrete goods with multiple attributes," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 27(6), pages 511-526.
    3. James Murphy & Ariel Dinar & Richard Howitt & Steven Rassenti & Vernon Smith, 2000. "The Design of ``Smart'' Water Market Institutions Using Laboratory Experiments," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 17(4), pages 375-394, December.
    4. Jack Knetsch & Fang-Fang Tang & Richard Thaler, 2001. "The Endowment Effect and Repeated Market Trials: Is the Vickrey Auction Demand Revealing?," Experimental Economics, Springer;Economic Science Association, vol. 4(3), pages 257-269, December.
    5. Vernon Smith, 2002. "Method in Experiment: Rhetoric and Reality," Experimental Economics, Springer;Economic Science Association, vol. 5(2), pages 91-110, October.
    6. Almeida, Vinicio de Souza e & Leal, Ricardi Pereira Câmara, 2015. "Análise experimental conjunta do comportamento do investidor em IPOs," RAE - Revista de Administração de Empresas, FGV-EAESP Escola de Administração de Empresas de São Paulo (Brazil), vol. 55(1), January.

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