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The Effect of Intertemporal Speculation on the Outcomes in Seller Posted Offer Auction Markets

Hoffman, Elizabeth and Plott, Charles R. (1981) The Effect of Intertemporal Speculation on the Outcomes in Seller Posted Offer Auction Markets. Quarterly Journal of Economics, 96 (2). pp. 223-242. ISSN 0033-5533. https://resolver.caltech.edu/CaltechAUTHORS:20140220-111730862

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Abstract

This paper extends the experimental examination of posted offer auction markets to a market with intertemporal speculators. Previous experimental results demonstrate that posted offer markets induce inefficiencies, and also an income distribution that works to the disadvantage of those facing posted prices. The results of this paper suggest that these properties of the posted offer institution hold in the presence of intertemporal speculation.


Item Type:Article
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http://www.jstor.org/stable/1882389OrganizationJSTOR Article
Additional Information:© 1981 by the President and Fellows of Harvard College. The financial support of the National Science Foundation and the Caltech Program for Enterprise and Public Policy is gratefully acknowledged. Edward C. Kokkelenberg helped recruit subjects and run experiments.
Group:Social Science Working Papers
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Caltech Program for Enterprise and Public PolicyUNSPECIFIED
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Social Science Working Paper241
Issue or Number:2
Record Number:CaltechAUTHORS:20140220-111730862
Persistent URL:https://resolver.caltech.edu/CaltechAUTHORS:20140220-111730862
Official Citation:The Effect of Intertemporal Speculation on the Outcomes in Seller Posted Offer Auction Markets Elizabeth Hoffman and Charles R. Plott The Quarterly Journal of Economics , Vol. 96, No. 2 (May, 1981) , pp. 223-242 Published by: Oxford University Press Article Stable URL: http://www.jstor.org/stable/1882389
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:43901
Collection:CaltechAUTHORS
Deposited By: Susan Vite
Deposited On:20 Feb 2014 19:38
Last Modified:03 Oct 2019 06:12

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