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Intertemporal Speculation with a Random Demand in an Experimental Market

Plott, Charles R. and Agha, Gul (1983) Intertemporal Speculation with a Random Demand in an Experimental Market. In: Aspiration levels in bargaining and economic decision making. Lecture notes in economics and mathematical systems. No.213. Springer-Verlag , Berlin, pp. 201-216. ISBN 9780387122779. https://resolver.caltech.edu/CaltechAUTHORS:20140324-104619136

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Abstract

The behavior of three markets with speculators is studied. Each market is for commodities that can be carried forward one period by two speculators. Demand in the first period is stationary from year to year and demand in the second period is randomly determined. The question posed by the research is the reliability of rational expectations models relative to autarky models, in explaining market behavior. The result is that the rational expectations model is more accurate.


Item Type:Book Section
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Additional Information:© 1983 Springer-Verlag. The financial support of the National Science Foundation, The Caltech Program for Enterprise and Public Policy, the Guggenheim Foundation, and the Center for Advanced Study in the Behavioral Sciences at Stanford is gratefully acknowledged.
Group:Social Science Working Papers
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NSFUNSPECIFIED
Caltech Program for Enterprise and Public PolicyUNSPECIFIED
John Simon Guggenheim FoundationUNSPECIFIED
Center for Advanced Study in Behavioral SciencesUNSPECIFIED
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Social Science Working Paper446
Series Name:Lecture notes in economics and mathematical systems
Issue or Number:213
Record Number:CaltechAUTHORS:20140324-104619136
Persistent URL:https://resolver.caltech.edu/CaltechAUTHORS:20140324-104619136
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:44457
Collection:CaltechAUTHORS
Deposited By: Susan Vite
Deposited On:03 Apr 2014 22:34
Last Modified:03 Oct 2019 06:18

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