Econometrica: May 1982, Volume 50, Issue 3
Asset Valuation in an Experimental Market
Charles R. Plott, Robert Forsythe, Thomas R. PalfreyThe 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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