Add to ORKGThis paper studies a laboratory economy with some of the prominent features of an international economic system. The patterns of trade and output predicted by the law of comparative advantage are observed evolving within the experimental markets. Market prices and quantities move in the direction of the competitive equilibrium, but the quantitative predictions of the (risk neutral) competitive equilibrium are rejected. Considerable amounts of economic activity occur as disequilibria. Factor-price equalization is observed, but there is a universal tendency for factors of production to trade at prices below their marginal products
We study market equilibration in laboratory economies that are larger and more complex than any that...
A laboratory market for two goods is instituted to examine the hypothesis that individuals will even...
Thesis (Ph.D.)--Massachusetts Institute of Technology, Dept. of Economics, c1999.Includes bibliograp...
This study is the first attempt to create and study a laboratory economy with some of the prominent ...
This paper reports the first experiments designed to explore the behavior of economies with prominen...
We study market equilibration in laboratory economies that are larger and more complex than any that...
For many decades, economists have lamented the constraints on performing experiments in economics. H...
This paper reports on the use of laboratory experimental techniques to create relatively complete ec...
This paper reports the first experiments designed to explore the behavior of economies with prominen...
It is the premise of this paper that the study of the decision behavior of suitably motivated indivi...
This paper reviews a small selection of experimental studies on markets and tries to highlight the r...
A laboratory experimental methodology has been developing in economics in recent years. The nature o...
The paper introduces differences in production and transaction conditions between countries into the...
There have been very few direct applications of experimental techniques in macroeconomics for two ma...
In this study, an experimental analysis of the fragility of the law of the comparative advantage in ...
We study market equilibration in laboratory economies that are larger and more complex than any that...
A laboratory market for two goods is instituted to examine the hypothesis that individuals will even...
Thesis (Ph.D.)--Massachusetts Institute of Technology, Dept. of Economics, c1999.Includes bibliograp...
This study is the first attempt to create and study a laboratory economy with some of the prominent ...
This paper reports the first experiments designed to explore the behavior of economies with prominen...
We study market equilibration in laboratory economies that are larger and more complex than any that...
For many decades, economists have lamented the constraints on performing experiments in economics. H...
This paper reports on the use of laboratory experimental techniques to create relatively complete ec...
This paper reports the first experiments designed to explore the behavior of economies with prominen...
It is the premise of this paper that the study of the decision behavior of suitably motivated indivi...
This paper reviews a small selection of experimental studies on markets and tries to highlight the r...
A laboratory experimental methodology has been developing in economics in recent years. The nature o...
The paper introduces differences in production and transaction conditions between countries into the...
There have been very few direct applications of experimental techniques in macroeconomics for two ma...
In this study, an experimental analysis of the fragility of the law of the comparative advantage in ...
We study market equilibration in laboratory economies that are larger and more complex than any that...
A laboratory market for two goods is instituted to examine the hypothesis that individuals will even...
Thesis (Ph.D.)--Massachusetts Institute of Technology, Dept. of Economics, c1999.Includes bibliograp...