Published May 1982
| Published
Journal Article
Open
Asset Valuation in an Experimental Market
-
1.
California Institute of Technology
Chicago
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Abstract
The 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.
Acknowledgement
The financial support of the National Science Foundation is gratefully acknowledged. The comments of William Brock, David Cass, Katherine Echol, Charles Holt, and James Jordan have been helpful. We also thank George Fox for his help in conducting the experiments.
Copyright and License
© 1982 The Econometric Society.
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Additional details
- Eprint ID
- 43905
- Resolver ID
- CaltechAUTHORS:20140220-122548702
- NSF
- Caltech groups
- Social Science Working Papers
- Other Numbering System Name
- Social Science Working Paper
- Other Numbering System Identifier
- 299
- Publication Status
- Published