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Results tagged with markets
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user 32357
A market is an institutional arrangement in which buyers and sellers exchange goods, services, or information in transactions with or without money.
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Understanding Vernon Smith's 1962 "An Experimental Study of Competitive Market Behavior"
Vernon Smith's 1962 paper "An Experimental Study of Competitive Market Behavior" simulates a market using students (who have piece of paper giving their reservation prices). In one of the experiments, …
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