Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/192231 
Autor:innen: 
Erscheinungsjahr: 
1999
Schriftenreihe/Nr.: 
Discussion Papers No. 248
Verlag: 
Statistics Norway, Research Department, Oslo
Zusammenfassung: 
This paper reports an experimental test of international quota trading on a market characterised by several dominant traders. Asymmetric information regarding quota demand and supply imply true market-clearing prices which differ from an expected competitive quota price. However, in the experiment the expected price level emerges as a focal point on which the bulk of quota trade contracts are keyed. Thus, incomplete price discovery obtains.
Schlagwörter: 
Asymmetric information
tradable quotas
experimental Economics.
JEL: 
D82
Q25
C90
Dokumentart: 
Working Paper

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