Experiment - Plott & Sunder 1998 - Revision history

DavidHoward4: minor updates

2012-07-24T17:56:40Z

minor updates

← Older revision		Revision as of 17:56, 24 July 2012
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	[[Category:Synthetic events]]		[[Category:Synthetic events]]
	[[Category:Winner-takes-all securities]]		[[Category:Winner-takes-all securities]]
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		+	== How To Speak More Wisely ==
		+
		+	It had been three weeks since my throat started to feel sore, and it wasnt getting better. The pain was most acute when I spoke. So I decided to spend a few days speaking as little as possible. Every time I had the urge to say something, I paused for a moment to question whether it was worth irritating my throat.
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		+	[[http://goodvillenews.com/How-To-Speak-More-Wisely-86itqo.html How To Speak More Wisely]]
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		+	[[http://goodvillenews.com/wk.html GoodvilleNews.com - good, positive news, inspirational stories, articles]]
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		+	== Simple Ways Of Dealing With Conflict ==
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		+	Being in control of your life and having realistic expectations about your day-to-day challenges are the keys to stress management, which is perhaps the most important ingredient to living a happy, healthy and rewarding life.
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		+	[[http://goodvillenews.com/Simple-Ways-Of-Dealing-With-Conflict-n0JxBe.html Simple Ways Of Dealing With Conflict]]
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		+	[[http://goodvillenews.com/wk.html GoodvilleNews.com - good, positive news, inspirational stories, articles]]
		+
		+	== A Sisters Deathless Legacy of Love ==
		+
		+	After living through an experimental cancer treatment my sister Barb was left unable to work. When she was offered the opportunity to do a mission trip in India if she could come up with $3,000 - she was left thinking there was no way she could go. No way to raise the funds. She asked me to brainstorm with her as to ways she could raise money. "The only thing I can do is hug," she told me - and thus her adventure began.
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		+	[[http://goodvillenews.com/A-Sisters-Deathless-Legacy-of-Love-UvTY7u.html A Sisters Deathless Legacy of Love]]
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		+	[[http://goodvillenews.com/wk.html GoodvilleNews.com - good, positive news, inspirational stories, articles]]
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		+	== 5 Reasons Why Meditation Beats an iPhone ==
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		+	People buy iPhones to be universally connected and have a ton of cool functions and features at their fingertips. But as the wise monk Rev. Heng Sure once said, everything we create in silicon already exists in carbon. Id add that the silicon technology is a poor facsimile at best.
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		+	[[http://goodvillenews.com/5-Reasons-Why-Meditation-Beats-an-iPhone-piD3rp.html 5 Reasons Why Meditation Beats an iPhone]]
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		+	[[http://goodvillenews.com/wk.html GoodvilleNews.com - good, positive news, inspirational stories, articles]]
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		+	== Paths Are Made By Walking ==
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		+	2012s Baccalaureate speaker at the University of Pennsylvania was an unconventional choice for an Ivy League school. To address their newly-minted graduates, aspiring to dazzling careers, they picked a man who has never in his adult life, applied for a job. A man who hasnt worked for pay in nearly a decade, and whose self-stated mission is simply "to bring smiles to the world and stillness to my heart".
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		+	[[http://goodvillenews.com/Paths-Are-Made-By-Walking-CMdEh4.html Paths Are Made By Walking]]
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Dorit.Geifman at 14:36, 12 May 2010

2010-05-12T14:36:44Z

← Older revision		Revision as of 14:36, 12 May 2010
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	The experiment run by Plott & Sunder in 1998 is one of several experiments which paved the way to future research in the field on Information Markets. The experiment was intended to explore the performance of markets as ''[[:category:Aggregate information\|information aggregation]]'' mechanisms. The markets were set up in a ''[[:category:Laboratory\|laboratory]]'' setting and traded ''[[:Category:Synthetic events\|synthetic events]]''. The markets were ''[[:category:Small size markets\|small]]'', involving 4-12 traders, and were conducted in several ''[[:Category:Short duration\|short]]'' periods. The marketplace employed an oral ''[[:Category:Continuous Double Auction (CDA)\|double auction]]'' mechanism, and operated with ''[[:Category:Real-money\|real-money]]''. The initial endowment to traders was in the form of ''[[:Category:Initial capital endowment\|capital]]'' and ''[[:Category:Initial securities endowment\|securities ]]'', and the final dividends were calculated based on the ''[[:Category:Winner-takes-all securities\|winner-takes-all securities]]'' and [[:Category:Index securities\|Index securities]] models. There was ''[[:Category:No interaction\|no interaction]]'' between participants.		The experiment run by Plott & Sunder in 1998 is one of several experiments which paved the way to future research in the field on Information Markets. The experiment was intended to explore the performance of markets as ''[[:category:Aggregate information\|information aggregation]]'' mechanisms. The markets were set up in a ''[[:category:Laboratory\|laboratory]]'' setting and traded ''[[:Category:Synthetic events\|synthetic events]]''. The markets were ''[[:category:Small size markets\|small]]'', involving 4-12 traders, and were conducted in several ''[[:Category:Short duration\|short]]'' periods. The marketplace employed an oral ''[[:Category:Continuous Double Auction (CDA)\|double auction]]'' mechanism, and operated with ''[[:Category:Real-money\|real-money]]''. The initial endowment to traders was in the form of ''[[:Category:Initial capital endowment\|capital]]'' and ''[[:Category:Initial securities endowment\|securities ]]'', and the final dividends were calculated based on the ''[[:Category:Winner-takes-all securities\|winner-takes-all securities]]'' and [[:Category:Index securities\|Index securities]] models. There was ''[[:Category:No interaction\|no interaction]]'' between participants.
		+
		+	The traders were ''[[:Category:Invited traders\|invited]]'' students and had ''[[:Category:No-stake in outcome\|no stakes]]'' in the outcome of the markets. The experiment simulated conditions were that traders had ''[[:Category:Perfect information\|perfect information]]''. At the end of the experiment the traders received a ''[[:Category:Monetary reward\|monetary reward]]'' according to their ''[[:Category:Performance incentive\|performance]]''.

	The first experiment in this series of experiment was run by Plott & Sunder in 1982 and was replicated in many subsequent studies		The first experiment in this series of experiment was run by Plott & Sunder in 1982 and was replicated in many subsequent studies
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	== References ==		== References ==
		+	Plott, C. R., & Sunder, S. (1988). [http://www.jstor.org/stable/1831348 Efficiency of Experimental Security Markets with Insider Information: An Application of Rational-Expectations Models]. ''The Journal of Political Economy, 90(4), 663''
	Plott, C. R., & Sunder, S. (1988). [http://www.jstor.org/stable/1911360 Rational expectations and the aggregation of diverse information in laboratory security markets]. ''Econometrica, 56(5), 1085-1118''		Plott, C. R., & Sunder, S. (1988). [http://www.jstor.org/stable/1911360 Rational expectations and the aggregation of diverse information in laboratory security markets]. ''Econometrica, 56(5), 1085-1118''

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	[[Category:Invited traders]]		[[Category:Invited traders]]
	[[Category:Laboratory]]		[[Category:Laboratory]]
		+	[[Category:Markets]]
	[[Category:Monetary reward]]		[[Category:Monetary reward]]
	[[Category:No interaction]]		[[Category:No interaction]]

Dorit.Geifman at 14:26, 12 May 2010

2010-05-12T14:26:11Z

← Older revision		Revision as of 14:26, 12 May 2010
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		+	The experiment run by Plott & Sunder in 1998 is one of several experiments which paved the way to future research in the field on Information Markets. The experiment was intended to explore the performance of markets as ''[[:category:Aggregate information\|information aggregation]]'' mechanisms. The markets were set up in a ''[[:category:Laboratory\|laboratory]]'' setting and traded ''[[:Category:Synthetic events\|synthetic events]]''. The markets were ''[[:category:Small size markets\|small]]'', involving 4-12 traders, and were conducted in several ''[[:Category:Short duration\|short]]'' periods. The marketplace employed an oral ''[[:Category:Continuous Double Auction (CDA)\|double auction]]'' mechanism, and operated with ''[[:Category:Real-money\|real-money]]''. The initial endowment to traders was in the form of ''[[:Category:Initial capital endowment\|capital]]'' and ''[[:Category:Initial securities endowment\|securities ]]'', and the final dividends were calculated based on the ''[[:Category:Winner-takes-all securities\|winner-takes-all securities]]'' and [[:Category:Index securities\|Index securities]] models. There was ''[[:Category:No interaction\|no interaction]]'' between participants.
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		+	The first experiment in this series of experiment was run by Plott & Sunder in 1982 and was replicated in many subsequent studies
		+
	== Discussion ==		== Discussion ==

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	[[Category:Performance incentive]]		[[Category:Performance incentive]]
-	[[Category:~~Play~~-money]]	+	[[Category:Real-money]]
	[[Category:Short duration]]		[[Category:Short duration]]
	[[Category:Small size markets]]		[[Category:Small size markets]]
	[[Category:Synthetic events]]		[[Category:Synthetic events]]
	[[Category:Winner-takes-all securities]]		[[Category:Winner-takes-all securities]]

Dorit.Geifman: Created page with '== Discussion == == References == Plott, C. R., & Sunder, S. (1988). [http://www.jstor.org/stable/1911360 Rational expectations and the aggregation of diverse information in lab…'

2010-05-09T12:09:58Z

Created page with '== Discussion == == References == Plott, C. R., & Sunder, S. (1988). [http://www.jstor.org/stable/1911360 Rational expectations and the aggregation of diverse information in lab…'

New page

== Discussion ==

== References ==
Plott, C. R., & Sunder, S. (1988). [http://www.jstor.org/stable/1911360 Rational expectations and the aggregation of diverse information in laboratory security markets]. ''Econometrica, 56(5), 1085-1118''

== External links ==

[[Category:Aggregate information]]
[[Category:Continuous Double Auction (CDA)]]
[[Category:Index securities]]
[[Category:Initial capital endowment]]
[[Category:Initial securities endowment]]
[[Category:Invited traders]]
[[Category:Laboratory]]
[[Category:Monetary reward]]
[[Category:No interaction]]
[[Category:No-stake in outcome]]
[[Category:Perfect information]]
[[Category:Performance incentive]]
[[Category:Play-money]]
[[Category:Short duration]]
[[Category:Small size markets]]
[[Category:Synthetic events]]
[[Category:Winner-takes-all securities]]