Published 1983
| Version public
Book Section - Chapter
Intertemporal Speculation with a Random Demand in an Experimental Market
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Abstract
The behavior of three markets with speculators is studied. Each market is for commodities that can be carried forward one period by two speculators. Demand in the first period is stationary from year to year and demand in the second period is randomly determined. The question posed by the research is the reliability of rational expectations models relative to autarky models, in explaining market behavior. The result is that the rational expectations model is more accurate.
Additional Information
© 1983 Springer-Verlag. The financial support of the National Science Foundation, The Caltech Program for Enterprise and Public Policy, the Guggenheim Foundation, and the Center for Advanced Study in the Behavioral Sciences at Stanford is gratefully acknowledged.Additional details
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- Eprint ID
- 44457
- Resolver ID
- CaltechAUTHORS:20140324-104619136
Related works
- Describes
- http://resolver.caltech.edu/CaltechAUTHORS:20170926-165839774 (URL)
Funding
- NSF
- Caltech Program for Enterprise and Public Policy
- John Simon Guggenheim Foundation
- Center for Advanced Study in Behavioral Sciences
Dates
- Created
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2014-04-03Created from EPrint's datestamp field
- Updated
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2019-10-03Created from EPrint's last_modified field
Caltech Custom Metadata
- Caltech groups
- Social Science Working Papers
- Series Name
- Lecture notes in economics and mathematical systems
- Series Volume or Issue Number
- 213
- Other Numbering System Name
- Social Science Working Paper
- Other Numbering System Identifier
- 446