General equilibrium, markets, macroeconomics and money in a laboratory experimental environment

Peng Lian and Charles Plott ()
Additional contact information
Peng Lian: Department of Government and Public Administration, Chinese University of Hong Kong, Shatin, NT, HONG KONG

Economic Theory, 1998, vol. 12, issue 1, 75 pages

Abstract: This paper reports on the use of laboratory experimental techniques to create relatively complete economic systems. The creation of these market systems reflects a first attempt to explore the nature of inherently interdependent environments and to assess the ability of simultaneous equations equilibrium models like the classical static general competitive equilibrium model, to predict aspects of system behaviors. In addition, the impact of the quantity of a fiat money was studied. The economies were successfully created. Classical models capture much of what was observed.

JEL-codes: C68 C90 D46 E31 (search for similar items in EconPapers)
Date: 1998-06-16
Note: Received: May 21, 1996; revised version: May 21, 1997
References: Add references at CitEc
Citations: View citations in EconPapers (56)

Downloads: (external link)
http://link.springer.de/link/service/journals/00199/papers/8012001/80120021.pdf (application/pdf)
http://link.springer.de/link/service/journals/0019 ... 12001/80120021.ps.gz (application/postscript)
Access to the full text of the articles in this series is restricted

Related works:
Journal Article: General equilibrium, markets, macroeconomics and money in a laboratory experimental environment (1998)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:joecth:v:12:y:1998:i:1:p:21-75

Ordering information: This journal article can be ordered from
http://www.springer. ... eory/journal/199/PS2

Access Statistics for this article

Economic Theory is currently edited by Nichoals Yanneils

More articles in Economic Theory from Springer, Society for the Advancement of Economic Theory (SAET) Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().