Skip to main content Accessibility help
×
Home
Hostname: page-component-55b6f6c457-9lvz7 Total loading time: 0.199 Render date: 2021-09-25T22:43:08.098Z Has data issue: true Feature Flags: { "shouldUseShareProductTool": true, "shouldUseHypothesis": true, "isUnsiloEnabled": true, "metricsAbstractViews": false, "figures": true, "newCiteModal": false, "newCitedByModal": true, "newEcommerce": true, "newUsageEvents": true }

Experimental Markets Using the Electronic Market Place (EMP)

Published online by Cambridge University Press:  28 April 2015

Paul L. Fackler
Affiliation:
Department of Agricultural and Resource Economics at North Carolina State University
Kevin McNew
Affiliation:
Department of Agricultural and Resource Economics at the University of Maryland
Get access

Abstract

A computer system for implementing electronic markets on networks of personal computers is described. The program allows a researcher or teacher to design market simulations to meet a variety of goals, and records a complete set of market activities for analysis. Illustrations of example markets are provided, and the classroom application of market simulations in teaching agricultural economics is discussed.

Type
Articles
Copyright
Copyright © Southern Agricultural Economics Association 1998

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Adam, B.D., Hudson, M.A., Leuthold, R.M., and Roberts, C.A.. “Information, Buyer Concentration, and Risk Attitudes: An Experimental Analysis.” Rev. Agr. Econ. 13(January 1991):5971.CrossRefGoogle Scholar
Buccola, S.T.Pricing Efficiency in Centralized and Noncentralized Markets.” Amer. J. Agr. Econ. 67(1985):583-90.CrossRefGoogle Scholar
Davis, D.D., and Holt, C.A.. Experimental Economics. Princeton NJ: Princeton University Press, 1993.Google Scholar
Felder, R.M., and Silverman, L.K.. “Learning and Teaching Styles.” Engineering Education 78,7(April 1988):674-81.Google Scholar
Forster, D.L.Thoughts on the Use of Experimental Markets in Agricultural Economics.” Paper presented at the Southern Agricultural Economics Association meetings, New Orleans, February 1988.Google Scholar
Forster, D.L., and Roberts, C.A.. “Oral and Electronic Double-Auction Markets: An Experimental Comparison.” N. Cent. J. Agr. Econ. 9(1987):99105.Google Scholar
Forster, D.L., Turner, S.G., Sporleder, T., and Adam, B.. “Current Laboratory Experiments in Agricultural Economics.” Abstract of symposium. Amer. J. Agr. Econ. 70(1988):1177.Google Scholar
Kagel, J.H., and Roth, A.E., eds. Handbook of Experimental Economics. Princeton NJ: Princeton University Press, 1995.Google Scholar
Smith, V.L.Experimental Economics: Induced Value Theory.” Amer. Econ. Rev. Proceedings 66(1976):274-79.Google Scholar
Smith, V.L.Theory, Experiment, and Economics.” J. Econ. Perspectives 3(1989):151-69.CrossRefGoogle Scholar
Wells, D.A.Laboratory Experiments for Undergraduate Instruction in Economics.” J. Econ. Education 22(1991):293300.CrossRefGoogle Scholar
2
Cited by

Send article to Kindle

To send this article to your Kindle, first ensure no-reply@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about sending to your Kindle. Find out more about sending to your Kindle.

Note you can select to send to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be sent to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Experimental Markets Using the Electronic Market Place (EMP)
Available formats
×

Send article to Dropbox

To send this article to your Dropbox account, please select one or more formats and confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your <service> account. Find out more about sending content to Dropbox.

Experimental Markets Using the Electronic Market Place (EMP)
Available formats
×

Send article to Google Drive

To send this article to your Google Drive account, please select one or more formats and confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your <service> account. Find out more about sending content to Google Drive.

Experimental Markets Using the Electronic Market Place (EMP)
Available formats
×
×

Reply to: Submit a response

Please enter your response.

Your details

Please enter a valid email address.

Conflicting interests

Do you have any conflicting interests? *