CALL MARKET-EFFICIENCY WITH SIMPLE ADAPTIVE LEARNING

被引：6
|
作者：
CASON, TN
机构：
[1] University of Southern California, Los Angeles, CA
来源：
ECONOMICS LETTERS | 1992年 / 40卷 / 01期
关键词：
D O I：
10.1016/0165-1765(92)90240-Y
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper shows that the call market institution's rules are powerful enough to generate efficient outcomes when traders follow simple, minimally-rational learning rules. The learning rules generate market outcomes that are qualitatively consistent with behavior of laboratory call markets.
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页码：27 / 32
页数：6
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