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Asset Valuation in an Experimental Market

Forsythe, Robert and Palfrey, Thomas R. and Plott, Charles R. (1982) Asset Valuation in an Experimental Market. Econometrica, 50 (3). pp. 537-567. ISSN 0012-9682. http://resolver.caltech.edu/CaltechAUTHORS:20140220-122548702

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Abstract

The time path of asset prices is studied within a stationary experimental environment. After several replications prices converge to a perfect foresight equilibrium. A sequential market having an "informational trap" and a futures market are also studied.


Item Type:Article
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http://www.jstor.org/stable/1912600OrganizationJSTOR Article
Additional Information:© 1982 The Econometric Society. Reprinted in Experimental Economics, edited by Vernon L. Smith, chapter 15, pp. 352-382. Edward Elgar Publishing Ltd, U.K., 1990. The financial support of the National Science Foundation is gratefully acknowledged. The comments of William Brock, David Cass, Katherine Echol, Charles Holt, and James Jordan have been helpful. We also thank George Fox for his help in conducting the experiments.
Group:Social Science Working Papers
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Social Science Working Paper299
Record Number:CaltechAUTHORS:20140220-122548702
Persistent URL:http://resolver.caltech.edu/CaltechAUTHORS:20140220-122548702
Official Citation:Asset Valuation in an Experimental Market Robert Forsythe, Thomas R. Palfrey and Charles R. Plott Econometrica , Vol. 50, No. 3 (May, 1982) , pp. 537-567 Published by: The Econometric Society Article Stable URL: http://www.jstor.org/stable/1912600
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:43905
Collection:CaltechAUTHORS
Deposited By: Susan Vite
Deposited On:20 Feb 2014 21:52
Last Modified:08 May 2014 15:22

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