For all three types of one-dimensional games and their two-dimensional analogues, the states reliably achieve a loose behavioral equilibrium (BE) even within the first half-run of 5 periods. Most of the loose BE are also tight BE, the main exceptions occurring in two-dimensional games with...

This chapter reports several robustness checks. OJ specifications designed to capture prior beliefs and non-linear responses to news detected some transient effects in many subjects, but for the most part the final regression is indistinguishable from the basic specification presented in this...

This chapter summarizes a laboratory experiment comparing four different trading institutions, in a random values environment with four single unit buyers and four single unit sellers. This chapter also summarizes the main findings on efficiency: the continuous double auction (CDA) and...

The matching market (MM) institution is a two-sided auction procedure that collects bids from buyers and asks from sellers, and iteratively matches the highest remaining bid with the highest remaining ask less than or equal to it. This chapter summarizes a first laboratory experiment comparing...