Security Trading of Concepts (STOC)
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(Created page with '== Discussion == == References == Dahan, E., Lo, A. W., Poggio, T., Chan, N. T., & Kim, A. (2006). [http://202.129.0.151/Teleport/MIT%20Sloan%20School%20of%20Management/Lo_secur…') |
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| + | The objective of the '''Security Trading of Concepts (STOC)''' markets is to ''[[:Category:Elicit opinion|elicit opinion]]'' about ''[[:Category:Business topics|consumer preferences]]'' over new product concepts. The markets were set up in a ''[[:category:Laboratory |laboratory]]'', they were of ''[[:Category:Medium size markets|medium size]]'' (18-26 participants) and open for a ''[[:Category:Short duration|short duration]]'' (10-60 minutes). The marketplace employed the ''[[:Category:Continuous Double Auction (CDA)|Continuous Double Auction (CDA)]]'' market model, and operated with ''[[:Category:Play-money|play-money]]''. The final dividends were calculated based on a ''[[:Category:Volume Weighted Average Price (VWAP)|volume weighted average price]]''. The traders received ''[[:Category:Initial capital endowment|initial capital endowment]]'' and ''[[:Category:Initial securities endowment|initial securities endowment]]''. | ||
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| + | The MBA students that were ''[[:Category:Invited traders|invited]]'' to trade had ''[[:Category:No-stake in outcome|no stake]]'' in the resulting customer preferences. The traders possessed ''[[:Category:Complete information|complete information]]'' regarding the product specifications, but the preferences were subject to own opinion. ''[[:Category:Gift reward|Prizes]]'' were awarded to traders based on ''[[:Category:Performance-rank incentive|performance-rank]]''. | ||
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== Discussion == | == Discussion == | ||
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[[Category:Invited traders]] | [[Category:Invited traders]] | ||
[[Category:Laboratory]] | [[Category:Laboratory]] | ||
| + | [[Category:Markets]] | ||
[[Category:Medium size markets]] | [[Category:Medium size markets]] | ||
[[Category:No-stake in outcome]] | [[Category:No-stake in outcome]] | ||
