Econometrica: May 1982, Volume 50, Issue 3

Asset Valuation in an Experimental Market

https://doi.org/0012-9682(198205)50:3<537:AVIAEM>2.0.CO;2-6
p. 537-568

Charles R. Plott, Robert Forsythe, Thomas R. Palfrey

The time path of asset prices is studied within a stationary experimental environment. After several replications prices converge to a perfect foresight equilibrium. A sequential market having an "informational trap" and a futures market are also studied.

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