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Behaviour of a Small Political Call Market

Listed author(s):
  • Klaus Beckmann

    (Universitaet Passau)

  • Martin Werding

    (Universitaet Passau)

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

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Length: 25 pages
Date of creation: 11 Oct 1994
Handle: RePEc:wpa:wuwpex:9410001
Note: 25 pages, Postscript file
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References listed on IDEAS
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  1. Forsythe, Robert & Forrest Nelson & George R. Neumann & Jack Wright, 1992. "Anatomy of an Experimental Political Stock Market," American Economic Review, American Economic Association, vol. 82(5), pages 1142-1161, December.
  2. Ananth N. Madhavan, "undated". "Trading Mechanisms in Securities Markets," Rodney L. White Center for Financial Research Working Papers 16-90, Wharton School Rodney L. White Center for Financial Research.
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