Published October 4, 2017
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Intertemporal Speculation with a Random Demand in an Experimental Market
- Creators
-
Plott, Charles R.
- Agha, Gul
Abstract
The behavior of three markets with speculators is studied. Each market is for commodities that can be carried forward one period by two speculators. Demand in the first period is randomly determined. The questions posed by the research is the reliability of rational expectations models relative to autarky models in explaining market behavior. The result is that the rational expectations model is more accurate.
Additional Information
The financial support of the National Science Foundation, the Caltech Program for Enterprise and Public Policy, the Guggenheim Foundation, and the Center for Advanced Study in the Behavioral Sciences at Stanford is gratefully acknowledged. Published as Plott, Charles R. and Agha, Gul (1983) Intertemporal Speculation with a Random Demand in an Experimental Market. In: Aspiration levels in bargaining and economic decision making. Lecture notes in economics and mathematical systems. No.213. Springer-Verlag , Berlin, pp. 201-216.Attached Files
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Additional details
- Eprint ID
- 81866
- Resolver ID
- CaltechAUTHORS:20170926-165839774
- NSF
- Caltech Program for Enterprise and Public Policy
- John Simon Guggenheim Foundation
- Center for Advanced Study in the Behavioral Sciences
- Created
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2017-10-04Created from EPrint's datestamp field
- Updated
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2019-10-03Created from EPrint's last_modified field
- Caltech groups
- Social Science Working Papers
- Series Name
- Social Science Working Paper
- Series Volume or Issue Number
- 446