According to the effective market theory, the stock prize on an effective market is the best estimate of the stock's current value. This is the basic assumption for predictions using experimental markets. This article describes the first experimental market organised in the Czech Republic, the...

According to efficient markets theory, the stock price on a competitive market is the best estimate of the stock’s present value. This is the basic assumption for predictions using experimental markets. The first part of the paper describes the features of such an experimental market,...