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By Charles Noussair, Steven Tucker

Comprised of 10 surveys via top students, this assortment showcases the biggest and quickest transforming into strands of study on industry behaviour in experimental economics. 

  • Covers subject matters akin to asset markets, contests, environmental coverage, frictions, normal equilibrium, labour markets, multi-unit auctions, oligopoly markets, and prediction markets
  • Focuses at the literature that has helped economists most sensible know how markets operate
  • Assesses the influence of advancements in conception, coverage, and examine methods

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Fehr, E. M. (1999) A theory of fairness, competition and co-operation. Quarterly Journal of Economics 114: 817–868. Fehr, E. M. (2007) Adding a stick to the carrot? The interaction of bonuses and fines. American Economic Review 97: 177–181. Fehr, E. -R. (2001) Does money illusion matter? American Economic Review 91: 1239–1262. , Kirchsteiger, G. and Riedl, A. (1993) Does fairness prevent market clearing? An experimental investigation. Quarterly Journal of Economics 108: 437–460. , Kirchsteiger, G.

And Sonnemans, J. (2007) Gift exchange in a multi-worker firm. Economic Journal 117: 1025–1050. , Sloof, R. and Sonnemans, J. (2013) Gift exchange and the separation of ownership and control. Games and Economic Behavior 77: 41–60. Nosenzo, D. (forthcoming). Pay secrecy and effort provision Economic Inquiry. , Plott, C. and Riezman, R. (1995) An experimental investigation of the patterns of international trade. American Economic Review 85: 462–491. , Plott, C. and Riezman, R. (2007) Production, trade and exchange rates in large experimental economies.

2005), and Crockett et al. (2011) present the classic examples of tˆatonnement instability in an entirely new light. The examples of Scarf (1960) and Gale (1963) were contemporaneously viewed as a call to arms for theorists to put additional structure on tˆatonnement to guarantee its global stability, or to put restrictions on preferences so that tˆatonnement-unstable environments could be eliminated. Both of these literatures are typically viewed to have ended in failure for GE theory. But these double auction experiments suggest that when strong income effects destabilize an economy theoretically under tˆatonnement, they also destabilize its laboratory counterpart across periods in a remarkably similar fashion.

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