V.L.スミス実験経済学論集<br>Papers in Experimental Economics


Papers in Experimental Economics

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  • 製本 Hardcover:ハードカバー版/ページ数 830 p.
  • 言語 ENG
  • 商品コード 9780521364560
  • DDC分類 330


New in paperback. Hardcover was published in 1991. Vernon L. Smith is a 2002 Nobel Laureate in Economics. This collection of his papers from 1962 to 1988 surveys major developments in the field from early attempts to simulate economic behavior in now classic double oral auction markets through recent studies of industrial organization and decision making.

Full Description

Professor Vernon L. Smith is a major creator of the new discipline of experimental economics. This collection of his papers from 1962 to 1990 surveys key developments in the field from early attempts to study economic behaviour in now classic double oral auction markets through recent studies of industrial organization and decision making. Topics covered include monopoly and oligopoly, supply and demand theory under posted pricing, uniform pricing, double continuous auction, and sealed bid-offer auctions; hypothetical valuation and market pricing; asset price bubbles; predatory pricing; market contestability and natural monopoly; and the methodology of experimental economics. Taken together, the papers form a history of the study of economics under controlled conditions.

Table of Contents

Part I. The Formative Years: introduction
1. An experimental study of competitive market
2. Effects of market organisation on
competitive equilibrium
3. Nature, the experimental laboratory, and the
credibility of hypotheses
4. Experimental auction markets and the
Walrasian hypothesis
5. Experimental studies of discrimination
versus competition in sealed-bid auction markets
6. Experimental economics: induced value theory
7. Bidding and auctioning institutions:
experimental results
8. Intertemporal competitive equilibrium: an
empirical study of speculation
9. Experimental economics at Purdue
Part II. Institutions And Market Performance:
10. On nonbinding price controls in a
competitive market
11. An experimental comparison of alternative
rules for competitive market exchange
12. Competitive market institutions: double
auctions vs. sealed bid-offer auctions
13. Markets as economizers of information:
experimental examination of the 'Hayek
14. The effect of rent asymmetries in
experimental auction markets
15. Microeconomic systems as an experimental
16. Experimental economics
17. A comparison of posted-offer and
double-auction pricing institutions
18. Hypothetical valuations and preference
reversals in the context of asset trading
19. Bubbles, crashes, and endogenous
expectations in experimental spot asset markets
Part III. Public Goods: Introduction
20. The principle od unanimity and voluntary
consent in social choice
21. Incentive compatible experimental processes
for the provision of public goods
22. An experimental comparison of three public
good decision mechanisms
23. Experiments with a decentralized mechanism
for public good decisions
24. Experimental tests of an allocation
mechanism for private, public or externality
Part IV. Auctions And Institutional Design:
25. Incentives and behaviour in English, Dutch
and Sealed-bid auctions
26. Theory and behaviour of single object
27. A test the discriminates between two models
of the Dutch-first auction non-isomorphism
28. Theory and behaviour of multiple unit
discriminative auctions
29. Theory and individual behaviour of
first-price auctions
30. A combinatorial auction mechanism for
airport time slot allocation
31. Designing 'smart' computer-assisted markets
Part V. Industrial Organization: Introduction
32. An empirical study of decentralized
institutions of monopoly restraint
33. Natural monopoly and contested markets:
some experimental results
34. In search of predatory pricing
Part VI. Perspectives On Economics: 35. Theory,
experiment and economics
36. Experimental economics: behavioural lessons
for microeconomic theory and policy.