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The first essay “Informational Asymmetries in Laboratory Asset Markets with State-Dependent Fundamentals” investigates the formation of market prices in a new experimental setting involving multi-period call-auction asset markets. In this paper, we are particularly interested in two...
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goods (i.e. public goods). The issues covered range from voluntary contributions and price exclusion (market allocation) to … positive and normative analyses of different political allocation procedures for public goods. Given this wide spectrum of … allocative schemes for public goods there does not seem to be an easy and clear-cut message from modern public-goods theory to …
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by standard economic theory but outrightly evident in empirical evidence, its presence opened doors for new methods to …
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