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Walrasian tatonnement has been a fundamental assumption in economics ever since Walras' general equilibrium theory was introduced in 1874. Nearly a century after its introduction, Vernon Smith relaxed the Walrasian tatonnement assumption by showing that neoclassical competitive market theory...
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limitations, we are able to derive informative bounds on demand under counterfactual price changes. These bounds arise because … exogenous price change(s). These bounds facilitate robust policy prescriptions using rich, internal data sources similar to …
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This study explores empirically the price dynamics within two distinct market institutions - a double oral auction …
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This study explores empirically the price dynamics within two distinct market institutions - a double oral auction …
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This study designs a natural field experiment linked to a controlled laboratory experiment to examine the effectiveness of matching gifts and challenge gifts, two popular strategies used to secure a portion of the $200 billion annually given to charities. We find evidence that challenge gifts...
Persistent link: https://www.econbiz.de/10003652682