Price bubbles and crashes in experimental call markets* Page 1 Economics Letters 41 (1993)
179-185 179 0165-1765/93/$06.00 © 1993 Elsevier Science Publishers BV All rights reserved …

The EPA has designed a new call auction institution for trading allowances to emit sulfur
dioxide. This paper reports twelve laboratory markets that evaluate the performance of this …

This study reports the results of a systematic literature review on auctions mechanism.
Auctions are a very popular practice employed in many fields but does not exist a research …

Laboratory asset markets provide an experimental setting in which to observe investor
behavior. Over more than a decade, numerous studies have found that participants in …

Price volatility and investor overreactions are commonplace in experimental asset markets.
Understanding the price dynamics in these markets is crucial for designing successful new …

The efficient management of air quality through the use of pollution emissions trading
systems is not a new idea (see Montgomery (1972)). However, the implementation of such …

The programs described in this manual and contained in the accompanying diskette are
those that are in use at the California Institute of Technology Laboratory for Exper—imental …

Results are reported of a series of nine market experiments with asymmetric information and
a fundamental value process that is more 'realistic'than those in previous experiments. Both …

We study the behavioral dynamics of limit orders in simultaneous experimental call-auction
markets with multiple multi-period lived securities. As analytical decision variable we use …

This paper shows that the call market institution's rules are powerful enough to generate
efficient outcomes when traders follow simple, minimally-rational learning rules. The …