This paper uses laboratory experiments to test alternative water market institutions designed to protect third party interests. The institutions tested include taxing mechanisms that raise revenue to compensate affected third parties and a market in which third parties actively participate. The...

This research examines results from laboratory experiments in which five human subjects participate as sellers in a Cournot oligopoly environment. The central issue is whether repeated play among a group of privately informed subjects will lead to convergence to a unique, static, noncooperative...

This chapter summarizes results from various experiments that uses a complex 9-node network market with parameters supplied by the electric utility industry. In the experiments conducted, the chapter uses a DC model with quadratic line losses to compute the real power flows in the aggregated...

This is a systematic experimental comparison of the efficiency and competitive properties of a computerized multiunit tatonnement with or without a dynamic improvement rule, with or without publicity of order flow information. All versions of the tatonnement are comparatively less efficient than...

The lack of price guidance towards efficiency relevant packages in ascending combinatorial clock auctions (ACCA) can lead to a low-efficiency allocation of goods. We propose a descending price combinatorial clock auction (DCCA) with a newly devised pricing strategy to improve on this problem....