This study explores empirically the price dynamics within two distinct market institutions - a double oral auction, which resembles modern asset markets, and a bilateral exchange market, which represents markets that have existed for centuries. To provide a theoretical basis to our...

'Until not much more than 20 years ago, economists frequently lamented the fact that they were limited in their empirical analyses to statistical assessments of market behavior, because controlled economic experiments were (thought to be) infeasible, unethical, or both. Much has changed in the...

The literature has shown the power of social norms to promote residential energy conservation, particularly among high usage users. This study uses a natural field experiment with nearly 200,000 US households to explore whether a financial rewards program can complement such approaches. We...