Plott, Charles R. and Agha, Gul (1982) Intertemporal Speculation with a Random Demand in an Experimental Market. Social Science Working Paper, 446. California Institute of Technology , Pasadena, CA. (Unpublished) https://resolver.caltech.edu/CaltechAUTHORS:20170926-165839774
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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 randomly determined. The questions 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: | Report or Paper (Working Paper) | ||||||||||
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| Additional Information: | 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. Published as 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. | ||||||||||
| Group: | Social Science Working Papers | ||||||||||
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| Series Name: | Social Science Working Paper | ||||||||||
| Issue or Number: | 446 | ||||||||||
| Record Number: | CaltechAUTHORS:20170926-165839774 | ||||||||||
| Persistent URL: | https://resolver.caltech.edu/CaltechAUTHORS:20170926-165839774 | ||||||||||
| Usage Policy: | No commercial reproduction, distribution, display or performance rights in this work are provided. | ||||||||||
| ID Code: | 81866 | ||||||||||
| Collection: | CaltechAUTHORS | ||||||||||
| Deposited By: | Jacquelyn Bussone | ||||||||||
| Deposited On: | 04 Oct 2017 19:55 | ||||||||||
| Last Modified: | 03 Oct 2019 18:48 |
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