Published June 1981
| Published
Journal Article
Open
Price Controls and the Behavior of Auction Markets: An Experimental Examination
- Creators
- Isaac, R. Mark
-
Plott, Charles R.
Chicago
An error occurred while generating the citation.
Abstract
Price ceilings and price floors are common in all market systems. The ancient Greeks and Hellenistic era Egyptians are known to have utilized price controls (see H. Michele, p. 272, and J. P. Levy, p. 41), and numerous public policy questions today involve them. Apparently for as long as price controls have existed, their effects have been debated. For example, Diocletion's favorable view of his price ceilings' was disputed by the religious philosopher, Lactantius, who charged that the policy led to "scarcity and... low grade articles" (p. 145).
Additional Information
© 1981 American Economic Association. Reprinted in Experimental Economics, edited by Vernon L. Smith, chapter 8, pp. 187-198. Edward Elgar Publishing Ltd, U.K., 1990. The financial support of the National Science Foundation and the Caltech Program for Enterprise and Public Policy is gratefully acknowledged. We thank Julie Laherty for her comments on an earlier draftAttached Files
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Additional details
- Eprint ID
- 43906
- Resolver ID
- CaltechAUTHORS:20140220-122856028
- NSF
- Caltech Program for Enterprise and Public Policy
- Created
-
2014-02-20Created 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
- Other Numbering System Name
- Social Science Working Paper
- Other Numbering System Identifier
- 253