Read more
Zusammenfassung A collection of papers by Vernon L. Smith including many of his contributions on bargaining and market behavior between 1990 and 1998. Inhaltsverzeichnis Part I: 1. Rational choice: the contrast between economics and psychology; 2. Experimental tests of the endowment effect; 3. Monetary rewards and decision costs in experimental economics; 4. Fairness, effect on temporary and equilibrium prices in posted-offer markets; Part II. Bargaining theory, Behavior and Evolutionary Psychology: 5. Preferences, property rights and anonymity in bargaining games; 6. Social distance and other regarding behavior in dictator games; 7. On expectations and monetary stakes in ultimatum games; 8. Game theory and reciprocity in some extensive form experimental games; 9. Behavioral foundations of reciprocity: experimental economics and psychology; Part III. Institutions and Markets: 10. Reflections on some experimental market mechanisms for classical environments; 11. Experimental methods in the political economy of exchange; 12. Individual rationality, market rationality, and value estimation; 13. Market contestability in the presence of sunk costs; 14. The boundaries of competitive price theory: expectations, convergence and transaction cost; 15. Off-floor trading, disintegration and the Bid-Ask spread in experimental markets; 16. Bertrand-Edgeworth competition in experimental markets; 17. An experimental examination of the Walrasian Tatonnement mechanism; Part IV. Stock Markets and Bubbles: 18. Stock markets bubbles in the laboratory.
