Plott, Charles R. and Turocy, Theodore L. (1997) Intertemporal Speculation Under Uncertain Future Demand, Experimental Results. In: Understanding Strategic Interaction : Essays in Honor of Reinhard Selton. Springer , Berlin, pp. 475-493. ISBN 9783642644306. https://resolver.caltech.edu/CaltechAUTHORS:20140324-093947557
![]() |
PDF
- Published Version
Restricted to Caltech community only See Usage Policy. 911kB |
Use this Persistent URL to link to this item: https://resolver.caltech.edu/CaltechAUTHORS:20140324-093947557
Abstract
This paper explores a market in which a subset of agents acting independently without direct communication can purchase commodities to carry forward in time in the face of uncertain future demand. The hypothesis that the equilibrating properties of markets will coordinate decentralized decisions to speculate as if all information was public gives no theory about the mechanism through which such information transfer might take place. The results provide general support for the validity of the equilibration suggestion. The mechanisms of information transfer seem to be located in the local nature of the price formation and carry-forward decisions coupled with a tendency for traders to specialize their activities.
Item Type: | Book Section | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Related URLs: |
| |||||||||
Group: | Social Science Working Papers | |||||||||
Subject Keywords: | Economic Theory ; Numerical Analysis | |||||||||
Record Number: | CaltechAUTHORS:20140324-093947557 | |||||||||
Persistent URL: | https://resolver.caltech.edu/CaltechAUTHORS:20140324-093947557 | |||||||||
Usage Policy: | No commercial reproduction, distribution, display or performance rights in this work are provided. | |||||||||
ID Code: | 44450 | |||||||||
Collection: | CaltechAUTHORS | |||||||||
Deposited By: | INVALID USER | |||||||||
Deposited On: | 14 Apr 2014 21:41 | |||||||||
Last Modified: | 03 Oct 2019 06:18 |
Repository Staff Only: item control page