THE MULTIPLE UNIT DOUBLE AUCTION

被引：47

作者：

PLOTT, CR

GRAY, P

机构：

[1] California Institute of Technology, Pasadena

来源：

JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION | 1990年 / 13卷 / 02期

基金：

美国国家科学基金会;

关键词：

D O I：

10.1016/0167-2681(90)90089-V

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The note outlines institutional features of an open outcry market that permit multiple unit or 'block' trades. The purpose of the note is to introduce the process as a tool to be used in economics experiments. The detailed rules governing the multiple unit double auction (MUDA) are stated for the case where offers are tendered by voice as opposed to through a computer. The results of markets that use the rules are reported as a demonstration that convergence to equilibrium price traditionally observed in experimental markets remains with the use of the MUDA process. © 1990.

引用

页码：245 / 258

页数：14