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Experimental Markets Using the Electronic Market Place (EMP)

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  • Fackler, Paul L.
  • McNew, Kevin

Abstract

A computer system for implementing electronic markets on networks of personal computers is described. The program allows a researcher or teacher to design market simulations to meet a variety of goals, and records a complete set of market activities for analysis. Illustrations of example markets are provided, and the classroom application of market simulations in teaching agricultural economics is discussed.

Suggested Citation

  • Fackler, Paul L. & McNew, Kevin, 1998. "Experimental Markets Using the Electronic Market Place (EMP)," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 30(1), pages 151-162, July.
    • Handle: RePEc:cup:jagaec:v:30:y:1998:i:01:p:151-162_00
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    References listed on IDEAS

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    1. Smith, Vernon L, 1976. "Experimental Economics: Induced Value Theory," American Economic Review, American Economic Association, vol. 66(2), pages 274-279, May.
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    Cited by:

    1. McNew, Kevin & Musser, Wesley N., 2000. "Evidence Of Farmer Forward Pricing Behavior," Working Papers 28568, University of Maryland, Department of Agricultural and Resource Economics.

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