کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
970555 1479576 2006 28 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
A middleman in an ambiguous situation—Experimental evidence
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
A middleman in an ambiguous situation—Experimental evidence
چکیده انگلیسی

This paper describes how undergraduates play intermediaries. A series of experiments was conducted to see how subjects play the monopolistic intermediary against given but unknown supply and demand. The results show that most subjects search for the bid and the ask prices that equalise the purchasing quantity with the selling quantity; then, keeping the trading quantity, they adjust the prices to obtain a locally maximum profit. This suggests that monopolistic firms can act as intermediaries even if they are not as informed as they are supposed to be discussed in the market microstructure theory. In addition, we investigate how people cope with ambiguity.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: The Journal of Socio-Economics - Volume 35, Issue 3, June 2006, Pages 412–439
نویسندگان
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