"Laboratory experiments have generally supported the fundamental theorem that, in classical property rights environments, noncooperative behavior in large group markets yields efficient social outcomes. Experiments, however, regularly fail to support the game theoretic prediction of...

This is a systematic experimental comparison of the efficiency and competitive properties of a computerized multiunit tatonnement with or without a dynamic improvement rule, with or without publicity of order flow information. All versions of the tatonnement are comparatively less efficient than...