-independent models of fairness. Our results have implications for price discrimination, labor markets, and dynamic pricing …

This study explores empirically the price dynamics within two distinct market institutions - a double oral auction …

Inventories and price changes are correlated. The inverse relation is most obvious in housing where inventories build …

paper examines the relationship between sale rates and price surprises over time in art auctions. Using data on contemporary … strong positive relationship of sale rates to unexpected aggregate price changes, which is reminiscent of a Phillips curve … that sale rates revert to "normal" very quickly following a price surprise. We estimate an empirical model to measure …

Blomquist and Christensen (2005) argue that welfare is initially decreasing in the price of an excludable public good … and that the case for a positive price for an excludable public good price is weak. We argue that this result follows from … overturns their result. Hence the policy case for a positive price on the public good is stronger than Blomquist and …

weight on their private signals than rational traders. But because they neglect that the price encodes other traders …