haku: @author Lian, P. / yhteensä: 1
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| Tekijä: | Lian, P. Plott, C. R. |
| Otsikko: | General equilibrium, markets, macroeconomics and money in a laboratory experimental environment |
| Lehti: | Economic Theory
1998 : VOL. 12:1, p. 21-75 |
| Asiasana: | MACROECONOMICS MARKETS EQUILIBRIUM ANALYSIS MODELS |
| Kieli: | eng |
| Tiivistelmä: | In the paper, the use of laboratory experimental techniques to create relatively complete economic systems is reported. The creation of these market systems reflects a first attempt to explore the nature of interdependent environments and to assess the ability of simultaneous equations equilibrium models like the classical general competitive equilibrium model, to predict aspects of system behaviors. Furthermore, the impact of the quantity of a fiat money was studied. The economies were successfully created. A lot of the observed is captured by classical models. |
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