In theory, the incidence of a tax should be independent of which side of the market it is levied on. This principle of … equivalence. We find that market outcomes are essentially the same when the tax is levied on sellers as when it is levied on … equivalence. -- Tax Liability ; Posted Offer Market ; Experimental Economics …

setting behavior is in general consistent with the theory. Capacities converge above the Cournot level. Sellers rarely manage …

We introduce a general continuous-time model for an illiquid financial market where the trades of a single large … investor can move market prices. The model is specified in terms of parameter dependent semimartingales, and its mathematical … analysis relies on the non-linear integration theory of such semimartingale families. The Itô-Wentzell formula is used to prove …

In this paper individual overconfidence within the context of an experimental asset market is investigated. Overall, 72 …

possibility is to adopt restrictions from economic theory. The purpose of this paper is to investigate the implications of the …