Crockett, Spear and Sunder [2005] propose an algorithm whereby boundedly rational agents with standard neoclassical preferences learn competitive equilibrium in a repeated static exchange economy. In this paper, a laboratory market is instituted to examine the hypothesis that people are at least...

Crockett, Spear and Sunder [2006] propose a simple learning rule through which an informationally decentralized, repeated, static pure exchange economy populated by agents with standard neoclassical preferences will coordinate on a competitive equilibrium. In this paper a laboratory market is...

The epsilon-intelligent competitive equilibrium algorithm is a decentralized alternative to Walrus' tatonnement procedure for markets to arrive at competitive equilibrium. We build on the Gode-Spear-Sunder zero-intelligent algorithm in which random generation of bids and offers from agents'...