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Full-Text Articles in Social and Behavioral Sciences
An Experimental Study Of Competitive Market Behavior, Vernon L. Smith
An Experimental Study Of Competitive Market Behavior, Vernon L. Smith
Economics Faculty Articles and Research
Recent years have witnessed a growing interest in experimental games such as management decision-making games and games designed to simulate oligopolistic market phenomena. This article reports on a series of experimental games designed to study some of the hypotheses of neoclassical competitive market theory.