This paper reports experiments motivated by ongoing controversies regarding tick size in markets. The minimum tick size in a market dictates discrete values at which bids and asks can be tendered by market participants. All transaction prices must occur at these discrete values, which are...

We report on six large-scale financial markets experiments that were designed to test two of the most basic propositions of modern asset pricing theory, namely, that the interaction between risk averse agents in a competitive market leads to equilibration, and that, in equilibrium, risk premia...

Experiments were conducted on an asset with the structure of an option. The asset was structured as though before the opening of each trading day a small group of insiders know whether the value of the underlying security will go up or down but the actual value of the underlying security is...

Experimental methods in economics respond to circumstances that are not completely dictated by accepted theory or outstanding problems. While the field of economics makes sharp distinctions and produces precise theory, the work of experimental economics sometimes appear blurred and may produce...

This outstanding collection spanning three decades comprises a superb selection of Charles R. Plott's work in experimental economics. Market Institutions and Price Discovery contains papers which define problems, create laboratory methodology and produce the first results in many areas of...