Image Database Export Citations


The Effect of Intertemporal Speculation on the Outcomes in Seller Posted Offer Auction Markets

Show full item record

Type: Working Paper
Author: Hoffman, Elizabeth; Plott, Charles R.
Date: 1978
Agency: Division of the Humanities and Social Sciences, California Institute of Technology, Pasadena, CA
Series: Social Science Working Paper, no. 241
URI: https://hdl.handle.net/10535/5734
Sector: Social Organization
Subject(s): auctions
economic theory
Abstract: "Laboratory experimental research has demonstrated that the posted price market institution operates in simple markets to induce inefficiencies, price 'distortions,' and an income distribution which works to the disadvantage of those who face posted prices. This discovery seems to be of considerable importance when viewed along with numerous examples of social policy which call for the establishment of posted prices as opposed to other modes of market organization . If indeed such effects of the posted price institution are found to persist in a variety of market environments some wide ranging policy reappraisals are in order. This paper extends the investigation of the posted price institution to intertemporal markets in which trading speculators exist."

Files in this item

Files Size Format View
The effect of i ... offer auction markets.pdf 295.9Kb PDF View/Open

This item appears in the following document type(s)

Show full item record