In this article we perform an empirical investigation to detect whether and to what extent agents' behaviour departs from those foreseen by the orthodox economic theory in the Pescara wholesale fish market, which has a centralized structure. Using non-parametric techniques and tools from...

We study the duration distribution of recessions and recoveries occurred in a pool of industrialized countries during the last 120 years. We find that for recessions the duration is distributed according to a power law, and that the power exponent is virtually invariant as we split up the time...

In this paper we analyze the Ancona wholesale fish market (MERITAN) where transactions take place in three simultaneous Dutch auctions. Our objective is to characterize the behavior of market participants and, in particular, buyers in such a market structure. Our analysis of the data shows that...