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Teaching auction strategy using experiments administered via the Internet
Teaching auction strategy experiments administered the Internet
2015/7/23
This article presents an experimental setup that has been used successfully to teach concepts in the economics of auctions, and implications for e-Business procurement. The experiment is easily admini...
Super-exponential bubbles in lab experiments: evidence for anchoring over-optimistic expectations on price
rational expectations nancial bubbles speculation anchoring laboratory experiments behavioral model super-exponential growth
2012/6/2
We analyze a controlled price formation experiment in the laboratory that shows evidence for bubbles. We calibrate two models that demonstrate with high statistical significance that these laboratory ...
Abstract
Washington consensus and shock therapy forgot Keynesian lessons from the Great Depression: market instability and the active role of government in promoting growth. The severe output decline...