Published January 1989
| Submitted
Discussion Paper
Open
The Multiple Unit Double Auction
- Creators
-
Plott, Charles R.
- Gray, Peter
Chicago
An error occurred while generating the citation.
Abstract
The note outlines institutional features of an open outcry market that permit multiple unit or "block" trades. The purpose of the note is to introduce the process as a tool to be used in economics experiments. The detailed rules governing the multiple unit double auction (MUDA) are stated for the case where offers are tendered by voice as opposed to through a computer. The results of markets that use the rules are reported as a demonstration that convergence to equilibrium price traditionally observed in experimental markets remains with the use of the MUDA process.
Additional Information
Revised. Original dated to January 1987. The financial support of the National Science Foundation, the Caltech Program of Enterprise and Public Policy, and the Caltech Laboratory for Experimental Economics and Political Science is gratefully acknowledged. We also wish to thank Mitch Loescher for his research assistance. Published as Plott, Charles R., and Peter Gray. "The multiple unit double auction." Journal of Economic Behavior & Organization 13.2 (1990): 245-258.Attached Files
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Additional details
- Eprint ID
- 81363
- Resolver ID
- CaltechAUTHORS:20170912-131831695
- NSF
- Caltech Program of Enterprise and Public Policy
- Caltech Laboratory for Experimental Economics and Political Science
- Created
-
2017-09-12Created from EPrint's datestamp field
- Updated
-
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
- 625