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Externalities and Corrective Policies in Experimental Markets

Plott, Charles R. (1983) Externalities and Corrective Policies in Experimental Markets. Economic Journal, 93 (369). pp. 106-127. ISSN 0013-0133. doi:10.2307/2232168.

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This paper reports on the behaviour of simple, laboratory markets which have an externality. Experiences with these markets provide some help in answering two broad questions. (1) Do markets with externalities behave in accordance with the law of supply and demand? (2) How do the pollution tax, pollution standard, and pollution licenses compare as methods for correcting the externality?

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Additional Information:© 1983 Published by Wiley on behalf of the Royal Economic Society. Reprinted in Recent Developments in Experimental Economics, vol. 2, no. 11, pp. 179-200, edited by J. D. Hey and G. Loomes. Edward Elgar Publishing Ltd, U.K., 1993. Reprinted in Experiments in Environmental Economics, Volumes I and II, edited by Jason F. Shogren (2006). Part of The International Library of Environmental Economics and Policy, overall general editors of the series, Tom Tietenberg and Kathy Segerson. The financial support of the National Science Foundation and the Caltech Program of Enterprise and Public Policy is gratefully acknowledged. The author would like to thank William Baumol for his comments and the research assistants on the project: Karen Close, James Hong, and Darwin Niekerk.
Group:Social Science Working Papers
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Caltech Program of Enterprise and Public PolicyUNSPECIFIED
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Other Numbering System NameOther Numbering System ID
Social Science Working Paper180
Issue or Number:369
Record Number:CaltechAUTHORS:20140225-160403872
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Official Citation:Externalities and Corrective Policies in Experimental Markets Charles R. Plott The Economic Journal , Vol. 93, No. 369 (Mar., 1983) , pp. 106-127 Published by: Wiley on behalf of the Royal Economic Society Article Stable URL:
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:43999
Deposited On:26 Feb 2014 15:41
Last Modified:10 Nov 2021 16:46

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