Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/63192 
Kompletter Metadatensatz
DublinCore-FeldWertSprache
dc.contributor.authorSøberg, Mortenen
dc.date.accessioned2012-09-20T13:17:39Z-
dc.date.available2012-09-20T13:17:39Z-
dc.date.issued2002-
dc.identifier.urihttp://hdl.handle.net/10419/63192-
dc.description.abstractThis paper reports on the empirical properties of the bid auction (buyers propose prices), offer auction (sellers suggest prices) and double auction (both buyers and seller initiate price quotes). These trading institutions are stress-tested using a nonstationary monopolistic market environment in which the buyers' demand schedule and the single seller's supply curve shift unpredictably between trading periods. The principal result is threefold. First, double auction prices tend to be greater than offer auction prices which again tend to be greater than bid auction prices. Second, the listed ranking reflects tendencies only. The laboratory data do not support statistically significant behavioral differences between the three auctions. Third, trading is highly efficient regardless of auction type.en
dc.language.isoengen
dc.publisher|aUniversity of Oslo, Department of Economics |cOsloen
dc.relation.ispartofseries|aMemorandum |x2002,05en
dc.subject.jelC90en
dc.subject.jelD44en
dc.subject.jelen
dc.subject.ddc330en
dc.subject.keywordSequential auctionsen
dc.subject.keywordexperimental economicsen
dc.subject.stwAuktionstheorieen
dc.titleA laboratory stress-test of bid, double and offer auctions-
dc.typeWorking Paperen
dc.identifier.ppn345628683en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

Datei(en):
Datei
Größe
388.69 kB





Publikationen in EconStor sind urheberrechtlich geschützt.