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Social and Behavioral Sciences Commons™
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Articles 1 - 2 of 2
Full-Text Articles in Social and Behavioral Sciences
Off-Floor Trading, Disintegration And The Bid-Ask Spread In Experimental Markets, Joseph Campbell, Shawn Lamaster, Vernon L. Smith, Mark Van Boening
Off-Floor Trading, Disintegration And The Bid-Ask Spread In Experimental Markets, Joseph Campbell, Shawn Lamaster, Vernon L. Smith, Mark Van Boening
Economics Faculty Articles and Research
This article uses experimental methods to establish that greater uncertainty in the environment increases the naturally emerging bid-ask spread in double-auction trading. The opportunity to trade off floor is then introduced. Off-floor trading is greater in the environment with a wider bid-ask spread, increases with block trading, and increases still more with increasing subject experience. Finally, we find that the preponderance of off-floor trades are inside the bid-ask spread, supporting the hypothesis that a motive for such trades is to split privately the gain represented by the bid-ask spread without revealing publicly a willingness to make price concessions.
Financing The Postwar Housing Boom In Phoenix And Los Angeles, 1945-1960, Lynne Doti, Larry Schweikart
Financing The Postwar Housing Boom In Phoenix And Los Angeles, 1945-1960, Lynne Doti, Larry Schweikart
Economics Faculty Articles and Research
This article compares the real estate markets in Los Angeles, CA to Phoenix, AZ.