메뉴 건너뛰기




Volumn 36, Issue 1, 2006, Pages 56-67

Software agents and market (In) efficiency: A human trader experiment

Author keywords

Artificial trading agent and human traders; Double auction; Electronic market; Experimental economics

Indexed keywords

ECONOMIC CYBERNETICS; INFORMATION TECHNOLOGY; LEAST SQUARES APPROXIMATIONS; REGRESSION ANALYSIS; SOFTWARE AGENTS; USER INTERFACES;

EID: 33644894452     PISSN: 10946977     EISSN: None     Source Type: Journal    
DOI: 10.1109/TSMCC.2005.860575     Document Type: Article
Times cited : (42)

References (60)
  • 1
    • 0036748962 scopus 로고    scopus 로고
    • "The timing of bids in Internet auctions: Market design, bidder behavior, and artificial agents"
    • Fall
    • A. Ockenfels and A. E. Roth, "The timing of bids in Internet auctions: Market design, bidder behavior, and artificial agents," Artif. Intell. Mag., pp. 79-87, Fall 2002.
    • (2002) Artif. Intell. Mag. , pp. 79-87
    • Ockenfels, A.1    Roth, A.E.2
  • 2
    • 0003288460 scopus 로고    scopus 로고
    • "Last minute bidding and the rules for ending second price auctions: Evidence from eBay and Amazon auctions on the Internet"
    • Sep
    • A. E. Roth and A. Ockenfels, "Last minute bidding and the rules for ending second price auctions: Evidence from eBay and Amazon auctions on the Internet," Amer. Econ. Rev., vol. 92, no. 4, pp. 1093-1103, Sep. 2002.
    • (2002) Amer. Econ. Rev. , vol.92 , Issue.4 , pp. 1093-1103
    • Roth, A.E.1    Ockenfels, A.2
  • 3
    • 33644899849 scopus 로고    scopus 로고
    • "Dumb software agents on experimental electronic markets"
    • G. für Informatik e.V., Ed. Leinfelden-Echterdingen, Germany: Konradin Verlag
    • J. Grossklags, C. Schmidt, and J. Siegel, "Dumb software agents on experimental electronic markets," in Informatiktage 2000, G. für Informatik e.V., Ed. Leinfelden-Echterdingen, Germany: Konradin Verlag, 2000.
    • (2000) Informatiktage 2000
    • Grossklags, J.1    Schmidt, C.2    Siegel, J.3
  • 4
    • 84880888209 scopus 로고    scopus 로고
    • "Agent-human interactions in the continuous double auction"
    • Seattle, Washington, USA, B. Nebel, Ed., San Francisco, CA: Morgan Kaufmann, Aug
    • R. Das, J. E. Hanson, J. O. Kephart, and G. Tesauro, "Agent-human interactions in the continuous double auction," in Proc. IJCAI 2001, Seattle, Washington, USA, B. Nebel, Ed., vol. 2, San Francisco, CA: Morgan Kaufmann, Aug. 2001, pp. 1169-1187.
    • (2001) Proc. IJCAI 2001 , vol.2 , pp. 1169-1187
    • Das, R.1    Hanson, J.E.2    Kephart, J.O.3    Tesauro, G.4
  • 5
    • 0001521143 scopus 로고
    • "An experimental study of competitive market behavior"
    • Apr
    • V. L. Smith, "An experimental study of competitive market behavior," J. Polit. Econ., vol. 70, no. 2, pp. 111-137, Apr. 1962.
    • (1962) J. Polit. Econ. , vol.70 , Issue.2 , pp. 111-137
    • Smith, V.L.1
  • 6
    • 72949083817 scopus 로고
    • "Allocative efficiency of markets with zero-intelligence traders: Market as a partial substitute for individual rationality"
    • Feb
    • D. K. Gode and S. Sunder, "Allocative efficiency of markets with zero-intelligence traders: Market as a partial substitute for individual rationality," J. Polit. Econ., vol. 101, no. 1, pp. 119-137, Feb. 1993.
    • (1993) J. Polit. Econ. , vol.101 , Issue.1 , pp. 119-137
    • Gode, D.K.1    Sunder, S.2
  • 7
    • 0031199648 scopus 로고    scopus 로고
    • "Minimal-Intelligence agents for bargaining behaviors in market-based environments"
    • Hewlett-Packard Labs., Bristol, UK, HP Labs. Tech., Rep. HPL 97-91, Aug
    • D. Cliff and J. Bruten, "Minimal-Intelligence agents for bargaining behaviors in market-based environments," Hewlett-Packard Labs., Bristol, UK, HP Labs. Tech., Rep. HPL 97-91, Aug. 1997.
    • (1997)
    • Cliff, D.1    Bruten, J.2
  • 8
    • 0002218996 scopus 로고    scopus 로고
    • "Price formation in double auctions"
    • Jan
    • S. Gjerstad and J. Dickhaut, "Price formation in double auctions," Games Econ. Behav., vol. 22, no. 1, pp. 1-29, Jan. 1998.
    • (1998) Games Econ. Behav. , vol.22 , Issue.1 , pp. 1-29
    • Gjerstad, S.1    Dickhaut, J.2
  • 9
    • 0002404968 scopus 로고
    • "On the efficiency of experimental double auction markets"
    • Mar
    • D. Friedman, "On the efficiency of experimental double auction markets," Amer. Econ. Rev., vol. 74, no. 1, pp. 60-72, Mar. 1984.
    • (1984) Amer. Econ. Rev. , vol.74 , Issue.1 , pp. 60-72
    • Friedman, D.1
  • 10
    • 0001872049 scopus 로고
    • "The double auction market institution: A survey"
    • D. Friedman and J. Rust, Eds. Reading, MA: Addison-Wesley, Santa Fe Institute Studies in Sciences of Complexity
    • D. Friedman, "The double auction market institution: A survey," in The Double Auction Market - Institutions, Theories, and Evidence, D. Friedman and J. Rust, Eds. Reading, MA: Addison-Wesley, Santa Fe Institute Studies in Sciences of Complexity 14, 1993, pp. 3-25.
    • (1993) The Double Auction Market - Institutions, Theories, and Evidence , vol.14 , pp. 3-25
    • Friedman, D.1
  • 11
    • 0000261158 scopus 로고
    • "Anatomy of an experimental political stock market"
    • Dec
    • R. Forsythe, F. Nelson, G. R. Neumann, and J. Wright, "Anatomy of an experimental political stock market," Amer. Econ. Rev., vol. 82, no. 5, pp. 1142-1161, Dec. 1992.
    • (1992) Amer. Econ. Rev. , vol.82 , Issue.5 , pp. 1142-1161
    • Forsythe, R.1    Nelson, F.2    Neumann, G.R.3    Wright, J.4
  • 12
    • 0033130232 scopus 로고    scopus 로고
    • "Wishes, expectations and actions: A survey on price formation in election stock markets"
    • May
    • R. Forsythe, T. A. Rietz, and T. W. Ross, "Wishes, expectations and actions: A survey on price formation in election stock markets," J. Econ. Behav. Organ., vol. 39, no. 1, pp. 83-110, May 1999.
    • (1999) J. Econ. Behav. Organ. , vol.39 , Issue.1 , pp. 83-110
    • Forsythe, R.1    Rietz, T.A.2    Ross, T.W.3
  • 13
    • 3142714526 scopus 로고    scopus 로고
    • "Manipulation in political stock markets - Preconditions and evidence"
    • Jun
    • J. Hansen, C. Schmidt, and M. Strobel, "Manipulation in political stock markets - Preconditions and evidence," Appl. Econ. Lett., vol. 11, no. 7, pp. 459-463, Jun. 2004.
    • (2004) Appl. Econ. Lett. , vol.11 , Issue.7 , pp. 459-463
    • Hansen, J.1    Schmidt, C.2    Strobel, M.3
  • 14
    • 0242613418 scopus 로고    scopus 로고
    • "How well do markets predict the outcome of an event? The Euro 2000 soccer championships experiment"
    • Germany: Max Planck Institute for Research into Economic Systems, Mar. Discussion Papers on Strategic Interaction 2002-9, Jena
    • C. Schmidt and A. Werwatz, "How well do markets predict the outcome of an event? The Euro 2000 soccer championships experiment," Discussion Papers on Strategic Interaction 2002-9, Jena, Germany: Max Planck Institute for Research into Economic Systems, Mar. 2002.
    • (2002)
    • Schmidt, C.1    Werwatz, A.2
  • 15
    • 0242578117 scopus 로고    scopus 로고
    • "A fuzzy logic based bidding strategy for autonomous agents in continuous double auctions"
    • Nov./Dec
    • M. He, H. Leung, and N. R. Jennings, "A fuzzy logic based bidding strategy for autonomous agents in continuous double auctions," IEEE Trans. Knowledge Data Eng., vol. 15, no. 6, pp. 1345-1363, Nov./Dec. 2003.
    • (2003) IEEE Trans. Knowledge Data Eng. , vol.15 , Issue.6 , pp. 1345-1363
    • He, M.1    Leung, H.2    Jennings, N.R.3
  • 18
    • 33644896135 scopus 로고    scopus 로고
    • "Don't let your robots grow up to be traders: Artificial intelligence, human intelligence, and asset-market bubbles"
    • Economics Working Paper No. 0306001, Apr
    • R. M. Miller, "Don't let your robots grow up to be traders: Artificial intelligence, human intelligence, and asset-market bubbles," Economics Working Paper No. 0306001, Apr. 2003.
    • (2003)
    • Miller, R.M.1
  • 19
    • 0000539623 scopus 로고    scopus 로고
    • "Avoidable cost: Ride a double auction roller coaster"
    • Jun
    • M. V. van Boening and N. T. Wilcox, "Avoidable cost: Ride a double auction roller coaster," Amer. Econ. Rev., vol. 86, no. 3, pp. 461-477, Jun. 1996.
    • (1996) Amer. Econ. Rev. , vol.86 , Issue.3 , pp. 461-477
    • van Boening, M.V.1    Wilcox, N.T.2
  • 22
    • 33644907659 scopus 로고    scopus 로고
    • "Human-agent participation in a business simulator"
    • T. Terano, H. Deguchi, and K. Takadama, Eds. Tokyo, Japan: Springer-Verlag
    • M. Kobayashi and T. Terano, "Human-agent participation in a business simulator," in Meeting the Challenge of Social Problems via Agent-Based Simulation, T. Terano, H. Deguchi, and K. Takadama, Eds. Tokyo, Japan: Springer-Verlag, 2003, pp. 91-106.
    • (2003) Meeting the Challenge of Social Problems Via Agent-Based Simulation , pp. 91-106
    • Kobayashi, M.1    Terano, T.2
  • 23
    • 66049149458 scopus 로고    scopus 로고
    • "Agent-based models and human-subject experiments"
    • K. L. Judd and L. Tesfatsion, Eds., Amsterdam, The Netherlands: North-Holland
    • J. Duffy, "Agent-based models and human-subject experiments," in Handbook of Computational Economics, K. L. Judd and L. Tesfatsion, Eds., vol. 2, Amsterdam, The Netherlands: North-Holland, 1996.
    • (1996) Handbook of Computational Economics , vol.2
    • Duffy, J.1
  • 24
    • 44149113363 scopus 로고    scopus 로고
    • "Artificial software agents on thin double auction markets - A human trader experiment"
    • Halifax, Nova Scotia, Canada, Oct
    • J. Grossklags and C. Schmidt, "Artificial software agents on thin double auction markets - A human trader experiment," in Proc. IAT-2003, Halifax, Nova Scotia, Canada, Oct. 2003, pp. 400-407.
    • (2003) Proc. IAT-2003 , pp. 400-407
    • Grossklags, J.1    Schmidt, C.2
  • 25
    • 84977713004 scopus 로고
    • "Partial revelation of information in experimental asset markets"
    • Mar
    • T. E. Copeland and D. Friedman, "Partial revelation of information in experimental asset markets," J. Finance, vol. 46, no. 1, pp. 265-295, Mar. 1991.
    • (1991) J. Finance , vol.46 , Issue.1 , pp. 265-295
    • Copeland, T.E.1    Friedman, D.2
  • 26
    • 0001580999 scopus 로고
    • "Information aggregation in an experimental market"
    • Mar
    • R. Forsythe and R. Lundholm, "Information aggregation in an experimental market," Econometrica, vol. 58, no. 2, pp. 309-347, Mar. 1990.
    • (1990) Econometrica , vol.58 , Issue.2 , pp. 309-347
    • Forsythe, R.1    Lundholm, R.2
  • 27
    • 0000349075 scopus 로고
    • "Rational expectations and the aggregation of diverse information in laboratory security markets"
    • Sep
    • C. R. Plott and S. Sunder, "Rational expectations and the aggregation of diverse information in laboratory security markets," Econometrica, vol. 56, no. 5, pp. 1085-1118, Sep. 1988.
    • (1988) Econometrica , vol.56 , Issue.5 , pp. 1085-1118
    • Plott, C.R.1    Sunder, S.2
  • 28
    • 0001547941 scopus 로고
    • "Bubbles, crashes, and endogenous expectations in experimental spot asset markets"
    • Sep
    • V. L. Smith, G. L. Suchanek, and A. W. Williams, "Bubbles, crashes, and endogenous expectations in experimental spot asset markets," Econometrica, vol. 56, no. 5, pp. 1119-1151, Sep. 1988.
    • (1988) Econometrica , vol.56 , Issue.5 , pp. 1119-1151
    • Smith, V.L.1    Suchanek, G.L.2    Williams, A.W.3
  • 29
    • 38248999433 scopus 로고
    • "Forecasting dynamics and convergence to market fundamentals. Evidence from experimental asset markets"
    • Dec
    • S. P. Peterson, "Forecasting dynamics and convergence to market fundamentals. Evidence from experimental asset markets," J. Econ. Behav. Organ., vol. 22, no. 3, pp. 269-284, Dec. 1993.
    • (1993) J. Econ. Behav. Organ. , vol.22 , Issue.3 , pp. 269-284
    • Peterson, S.P.1
  • 30
    • 0000763571 scopus 로고
    • "Experimental asset markets: A survey"
    • A. Roth and J. Kagel, Eds., Princeton, NJ, Princeton Univ. Press
    • S. Sunder, "Experimental asset markets: A survey," in Handbook of Experimental Economics, A. Roth and J. Kagel, Eds., Princeton, NJ, Princeton Univ. Press, pp. 445-500, 1995.
    • (1995) Handbook of Experimental Economics , pp. 445-500
    • Sunder, S.1
  • 31
    • 0006975486 scopus 로고
    • "Experimental evaluation of institutions of monopoly restraint"
    • L. Green and J. H. Kagel, Eds. Norwood, NJ: Ablex
    • G. W. Harrison, M. McKee, and E. E. Rutström, "Experimental evaluation of institutions of monopoly restraint," in Advances in Behavioral Economics, vol. 2, L. Green and J. H. Kagel, Eds. Norwood, NJ: Ablex, 1989, pp. 54-94.
    • (1989) Advances in Behavioral Economics , vol.2 , pp. 54-94
    • Harrison, G.W.1    McKee, M.2    Rutström, E.E.3
  • 32
    • 0001962985 scopus 로고
    • "Monopoly behavior, decentralized regulation, and contestable markets: An experimental evaluation"
    • Spring
    • G. W. Harrison and M. McKee, "Monopoly behavior, decentralized regulation, and contestable markets: An experimental evaluation," RAND J. Econ., vol. 16, no. 1, pp. 51-69, Spring 1985.
    • (1985) RAND J. Econ. , vol.16 , Issue.1 , pp. 51-69
    • Harrison, G.W.1    McKee, M.2
  • 33
    • 84919531606 scopus 로고
    • "Natural monopoly and contested markets: Some experimental results"
    • Apr
    • D. Coursey, R. M. Isaac, and V. L. Smith, "Natural monopoly and contested markets: Some experimental results," J. Law Econ., vol. 27, no. 1, pp. 91-113, Apr. 1984.
    • (1984) J. Law Econ. , vol.27 , Issue.1 , pp. 91-113
    • Coursey, D.1    Isaac, R.M.2    Smith, V.L.3
  • 34
    • 0014066437 scopus 로고
    • "Measuring the cooperativeness of behavior in quantity variation duopoly games"
    • Mar
    • A. C. Hoggatt, "Measuring the cooperativeness of behavior in quantity variation duopoly games," Behav. Sci., vol. 12, no. 2, pp. 109-121, Mar. 1967.
    • (1967) Behav. Sci. , vol.12 , Issue.2 , pp. 109-121
    • Hoggatt, A.C.1
  • 35
    • 84963091246 scopus 로고
    • "Response of paid student subjects to differential behavior of robots in bifurcated duopoly games"
    • Oct
    • A. C. Hoggatt, "Response of paid student subjects to differential behavior of robots in bifurcated duopoly games," Rev. Econ. Stud., vol. 36, no. 4, pp. 417-432, Oct. 1969.
    • (1969) Rev. Econ. Stud. , vol.36 , Issue.4 , pp. 417-432
    • Hoggatt, A.C.1
  • 36
    • 33644928921 scopus 로고
    • "Teams compared to individuals in duopoly games with an artificial player"
    • Apr
    • G. Wolf and M. Shubik, "Teams compared to individuals in duopoly games with an artificial player," South. Econ. J., vol. 41, no. 4, pp. 635-648, Apr. 1975.
    • (1975) South. Econ. J. , vol.41 , Issue.4 , pp. 635-648
    • Wolf, G.1    Shubik, M.2
  • 37
    • 21144446910 scopus 로고    scopus 로고
    • "Do we detect and exploit mixed strategy play by opponents?"
    • Jul
    • J. Shachat and J. T. Swarthout, "Do we detect and exploit mixed strategy play by opponents?," Math. Methods Operations Res., vol. 59, no. 3, pp. 359-373, Jul. 2004.
    • (2004) Math. Methods Operations Res. , vol.59 , Issue.3 , pp. 359-373
    • Shachat, J.1    Swarthout, J.T.2
  • 40
    • 0000926141 scopus 로고
    • "The structure of Nash equilibrium in repeated games with finite automata"
    • Nov
    • D. Abreu and A. Rubinstein, "The structure of Nash equilibrium in repeated games with finite automata," Econometrica, vol. 56, no. 6, pp. 1259-1281, Nov. 1988.
    • (1988) Econometrica , vol.56 , Issue.6 , pp. 1259-1281
    • Abreu, D.1    Rubinstein, A.2
  • 41
    • 0002569430 scopus 로고
    • "Characterizing effective trading strategies. Insights from a computerized double auction tournament"
    • Jan
    • J. Rust, J. H. Miller, and R. Palmer, "Characterizing effective trading strategies. Insights from a computerized double auction tournament," J. Econ. Dynam. Control, vol. 18, no. 1, pp. 61-96, Jan. 1994.
    • (1994) J. Econ. Dynam. Control , vol.18 , Issue.1 , pp. 61-96
    • Rust, J.1    Miller, J.H.2    Palmer, R.3
  • 42
    • 0000220948 scopus 로고    scopus 로고
    • "Duopoly strategies programmed by experienced players"
    • May
    • R. Selten, M. Mitzkewitz, and G. R. Uhlich, "Duopoly strategies programmed by experienced players," Econometrica, vol. 65, no. 3, pp. 517-555, May 1997.
    • (1997) Econometrica , vol.65 , Issue.3 , pp. 517-555
    • Selten, R.1    Mitzkewitz, M.2    Uhlich, G.R.3
  • 43
    • 33644920868 scopus 로고    scopus 로고
    • "Evolving market-design in zero-intelligence trader markets"
    • Newport Beach, CA, Jun
    • V. Walia, A. Byde, and D. Cliff, "Evolving market-design in zero-intelligence trader markets," in Proc. CEC'03, Newport Beach, CA, Jun. 2003, pp. 157-164.
    • (2003) Proc. CEC'03 , pp. 157-164
    • Walia, V.1    Byde, A.2    Cliff, D.3
  • 44
    • 0032093057 scopus 로고    scopus 로고
    • "Agent-mediated electronic commerce: A survey"
    • Jul
    • R. H. Guttman, A. G. Moukas, and P. Maes, "Agent-mediated electronic commerce: A survey," Knowl. Eng. Rev., vol. 13, no. 2, pp. 147-159, Jul. 1998.
    • (1998) Knowl. Eng. Rev. , vol.13 , Issue.2 , pp. 147-159
    • Guttman, R.H.1    Moukas, A.G.2    Maes, P.3
  • 45
    • 0032156024 scopus 로고    scopus 로고
    • "Negotiation decision functions for autonomous agents"
    • Sep
    • P. Faratin, C. Sierra, and N. R. Jennings, "Negotiation decision functions for autonomous agents," Robot. Auton. Syst., vol. 24, no. 3-4, pp. 159-182, Sep. 1998.
    • (1998) Robot. Auton. Syst. , vol.24 , Issue.3-4 , pp. 159-182
    • Faratin, P.1    Sierra, C.2    Jennings, N.R.3
  • 46
    • 0037380469 scopus 로고    scopus 로고
    • "Agents that react to changing market conditions"
    • Apr
    • K. M. Sim and C. Y. Choi, "Agents that react to changing market conditions," IEEE Trans. Syst., Man, Cybern. B, Cybern., vol. 33, no. 2, pp. 188-201, Apr. 2003.
    • (2003) IEEE Trans. Syst., Man, Cybern. B, Cybern. , vol.33 , Issue.2 , pp. 188-201
    • Sim, K.M.1    Choi, C.Y.2
  • 48
    • 85124915621 scopus 로고    scopus 로고
    • "Probabilistic automated bidding in multiple auctions"
    • Jan
    • M. Dumas, L. Aldred, G. Governatori, and A. Hofstede, "Probabilistic automated bidding in multiple auctions," Electron. Commerce Res., vol. 15, no. 1, pp. 23-47, Jan. 2005.
    • (2005) Electron. Commerce Res. , vol.15 , Issue.1 , pp. 23-47
    • Dumas, M.1    Aldred, L.2    Governatori, G.3    Hofstede, A.4
  • 49
    • 0347552780 scopus 로고
    • "Comments on the market crash: Six months after"
    • Summer
    • H. Leland and M. Rubinstein, "Comments on the market crash: Six months after," J. Econ. Perspect., Discussion Paper, vol. 2, no. 3, pp. 45-50, Summer 1988.
    • (1988) J. Econ. Perspect. Discussion Paper , vol.2 , Issue.3 , pp. 45-50
    • Leland, H.1    Rubinstein, M.2
  • 50
    • 4243956279 scopus 로고    scopus 로고
    • "Effect of the internet on financial markets"
    • Berkeley: University of California, Sep
    • H. R. Varian, "Effect of the internet on financial markets," School of Information Management and Systems, Berkeley: University of California, Sep. 1998.
    • (1998) School of Information Management and Systems
    • Varian, H.R.1
  • 51
    • 0001578670 scopus 로고
    • "Market liquidity, hedging, and crashes"
    • Dec
    • G. Gennotte and H. Leland, "Market liquidity, hedging, and crashes," Amer. Econ. Rev., vol. 80, no. 5, pp. 999-1021, Dec. 1990.
    • (1990) Amer. Econ. Rev. , vol.80 , Issue.5 , pp. 999-1021
    • Gennotte, G.1    Leland, H.2
  • 52
    • 0031570602 scopus 로고    scopus 로고
    • "Explaining the facts with adaptive agents: The case of mutual fund flows"
    • Jun
    • M. Lettau, "Explaining the facts with adaptive agents: The case of mutual fund flows," J. Econ. Dynam. Control, vol. 21, no. 7, pp. 1117-1148, Jun. 1997.
    • (1997) J. Econ. Dynam. Control , vol.21 , Issue.7 , pp. 1117-1148
    • Lettau, M.1
  • 53
    • 0030477311 scopus 로고    scopus 로고
    • "The behavior of the exchange rate in the genetic algorithm and experimental economies"
    • Jun
    • J. Arifovic, "The behavior of the exchange rate in the genetic algorithm and experimental economies," J. Polit. Econ., vol. 104, no. 3, pp. 510-541, Jun. 1996.
    • (1996) J. Polit. Econ. , vol.104 , Issue.3 , pp. 510-541
    • Arifovic, J.1
  • 54
    • 0035595747 scopus 로고    scopus 로고
    • "Genetic algorithm learning to choose and use information"
    • Apr
    • B. R. Routledge, "Genetic algorithm learning to choose and use information," Macroecon. Dynam., vol. 5, no. 2, pp. 303-325, Apr. 2001.
    • (2001) Macroecon. Dynam. , vol.5 , Issue.2 , pp. 303-325
    • Routledge, B.R.1
  • 57
    • 49049133343 scopus 로고
    • "Information, trade and common knowledge"
    • Feb
    • P. Milgrom and N. Stokey, "Information, trade and common knowledge," J. Econ. Theory, vol. 26, no. 1, pp. 17-27, Feb. 1982.
    • (1982) J. Econ. Theory , vol.26 , Issue.1 , pp. 17-27
    • Milgrom, P.1    Stokey, N.2
  • 58
    • 0001635606 scopus 로고    scopus 로고
    • "Cognition and behavior in normal-form games: An experimental study"
    • Sep
    • M. Costa-Gomes, V. P. Crawford, and B. Broseta, "Cognition and behavior in normal-form games: An experimental study," Econometrica, vol. 69, no. 5, pp. 1193-1235, Sep. 2001.
    • (2001) Econometrica , vol.69 , Issue.5 , pp. 1193-1235
    • Costa-Gomes, M.1    Crawford, V.P.2    Broseta, B.3
  • 59
    • 0000998041 scopus 로고    scopus 로고
    • "Features of experimentally observed bounded rationality"
    • May
    • R. Selten, "Features of experimentally observed bounded rationality," Eur. Econ. Rev., vol. 42, no. 3-5, pp. 413-436, May 1998.
    • (1998) Eur. Econ. Rev. , vol.42 , Issue.3-5 , pp. 413-436
    • Selten, R.1
  • 60
    • 0038432486 scopus 로고    scopus 로고
    • "Nonspeculative bubbles in experimental asset markets: Lack of common knowledge of rationality vs. actual irrationality"
    • Jul
    • V. Lei, C. N. Noussair, and C. R. Plott, "Nonspeculative bubbles in experimental asset markets: Lack of common knowledge of rationality vs. actual irrationality," Econometrica, vol. 69, no. 4, pp. 831-859, Jul. 2001.
    • (2001) Econometrica , vol.69 , Issue.4 , pp. 831-859
    • Lei, V.1    Noussair, C.N.2    Plott, C.R.3


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.