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The Multiple Unit Double Auction

Plott, Charles R. and Gray, Peter (1989) The Multiple Unit Double Auction. Social Science Working Paper, 625. California Institute of Technology , Pasadena, CA. (Unpublished) http://resolver.caltech.edu/CaltechAUTHORS:20170912-131831695

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Abstract

The note outlines institutional features of an open outcry market that permit multiple unit or "block" trades. The purpose of the note is to introduce the process as a tool to be used in economics experiments. The detailed rules governing the multiple unit double auction (MUDA) are stated for the case where offers are tendered by voice as opposed to through a computer. The results of markets that use the rules are reported as a demonstration that convergence to equilibrium price traditionally observed in experimental markets remains with the use of the MUDA process.


Item Type:Report or Paper (Discussion Paper)
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http://resolver.caltech.edu/CaltechAUTHORS:20140220-115941137Related ItemPublished Version
Additional Information:Revised. Original dated to January 1987. The financial support of the National Science Foundation, the Caltech Program of Enterprise and Public Policy, and the Caltech Laboratory for Experimental Economics and Political Science is gratefully acknowledged. We also wish to thank Mitch Loescher for his research assistance. Published as Plott, Charles R., and Peter Gray. "The multiple unit double auction." Journal of Economic Behavior & Organization 13.2 (1990): 245-258.
Group:Social Science Working Papers
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Caltech Program of Enterprise and Public PolicyUNSPECIFIED
Caltech Laboratory for Experimental Economics and Political ScienceUNSPECIFIED
Record Number:CaltechAUTHORS:20170912-131831695
Persistent URL:http://resolver.caltech.edu/CaltechAUTHORS:20170912-131831695
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:81363
Collection:CaltechAUTHORS
Deposited By: Jacquelyn Bussone
Deposited On:12 Sep 2017 20:29
Last Modified:12 Sep 2017 20:29

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