Market trading: Looking inside the box

Charles A. Holt

Chapter 1 in The Origins and Evolution of Experimental Economics, 2026, pp 1-18 from Edward Elgar Publishing

Abstract: The marvelous feature of lab experiments is that you get to peek inside the box at the mechanism, and to think outside the box about ways to improve the outcomes. This chapter summarizes Vernon Smith's seminal work on market efficiency, and on ways in which performance can be degraded: market power; collusion; price controls; and asymmetric information.

Keywords: Market Experiment; Efficiency; Market Power; Market Trading Institutions (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035356256
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