The histories of seven regional markets for new physicians and surgeons in the United Kingdom are considered. Like the American market, these markets have experienced failures that led to the adoption of centralized market mechanisms. Because different regions employ different centralized...

This paper concerns the difficulties associated with establishing a time at which a market will operate. The authors first describe the experience of several dozen markets and submarkets, from entry-level professional labor markets in the United States, Canada, England, and Japan to the...

The authors examine learning in all experiments they could locate involving one hundred periods or more of games with a unique equilibrium in mixed strategies, and in a new experiment. They study both the ex post ('best fit') descriptive power of learning models, and their ex ante predictive...

The history and organization of the membership recruitment process of American sororities is studied. Like entry-level labor markets studied previously, this process experienced failures that led to the adaptation of a centralized matching procedure in which a matching is determined on the basis...

This paper reports findings from an experiment that implements a search-theoretic model of money as a medium of exchange. The question examined is whether subjects learn to adopt the same commodities as media of exchange that the model predicts will be used in equilibrium. We report that...