Equilibrium selection in an experimental macroeconomy

Southern Economic Journal

Volumn 74, Issue 2, 2007, Pages 448-482

  Lei, Vivian ^a   Noussair, Charles N ^b  

^a UNIVERSITY OF WISCONSIN MILWAUKEE   (United States)

^b TILBURG UNIVERSITY   (Netherlands)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 36348964154     PISSN: 00384038     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article

References (31)

1. Azariadis, Costas. 1993. Intertemporal macroeconomics. Cambridge, MA: Blackwell.
2. Azariadis, Costas, and Allan Drazen. 1990. Threshold externalities in economic development. Quarterly Journal of Economics 105:501-26.
3. Banerjee, Abhijit, Dilip Mookherjee, Kaivan Munshim, and Debraj Ray. 2001. Inequality, control rights, and rent seeking: Sugar cooperatives in Maharashtra. Journal of Political Economy 109:138-90.
4. Barro, Robert, and Xavier Sala-i-Martin. 1995. Economic growth. New York: McGraw-Hill.
5. Baumol, William J. 1986. Productivity growth, convergence, and welfare: What the long-run data show. American Economic Review 76:1072-85.
6. Camerer, Colin, and Keith Weigelt. 1993. Convergence in experimental double auctions for stochastically lived assets. In The double auction market: Institutions, theories, and evidence, edited by D. Friedman and J. Rust. New York: Addison-Wesley, pp. 355-96.
7. Cass, David. 1965. Optimal growth in an aggregative model of capital accumulation. Review of Economic Studies 32:233-40.
8. Cooper, Russell. 2005. Estimation and identification of structural parameters in the presence of multiple equilibria. Eastern Economic Journal 31:1070-130.
9. Cooper, Russell, Douglas DeJong, Robert Forsythe, and Thomas Ross. 1990. Selection criteria in coordination games: Some experimental results. American Economic Review 80:218-33.
10. Durlauf, Steven, and Danny Quah. 1999. The new empirics of economic growth. In Handbook of macroeconomics, edited by John Taylor and Michael Woodford. Amsterdam: Elsevier Science, North-Holland, pp. 235-308.
11. Fischbacher, Urs. 2007. Z-Tree-Zurich Toolbox for Readymade Economic Experiments. Experimental Economics 10:171-8.
12. Galor, Oded, and Joseph Zeira. 1993. Income distribution and macroeconomics. Review of Economic Studies 60:35-52.
13. Islam, Nazrul. 2003. What have we learned from the convergence debate? A review of the convergence literature. Journal of Economic Surveys 17:309-62.
14. Koopmans, Tjalling C. 1965. On the concept of optimal economic growth. Pontificiae Academiae Scientiarum Sceipta Varia 28:225-300.
15. Lei, Vivian, and Charles Noussair. 2002. An experimental test of an optimal growth model. American Economic Review 92:549-70.
16. Lucas, Robert E., Jr. 1988. On the mechanics of development planning. Journal of Monetary Economics 22:3-42.
17. Marimon, Ramon, and Shyam Sunder. 1993. Indeterminacy of equilibria in a hyperinflationary world: Experimental evidence. Econometrica 61:1073-107.
18. Murphy, Kevin M., Andrei Shleifer, and Robert W. Vishny. 1989. Industrialization and the big push. Quarterly Journal of Economics 106:503-30.
19. Noussair, Charles N. 2003. Innovations in the development of bundled-item auctions. Proceedings of the National Academy of Sciences 100:10590-1.
20. Noussair, Charles N., and Kenneth Matheny. 2000. An experimental study of decisions in dynamic optimization problems. Economic Theory 15:389-419.
21. Plott, Charles, and Glen George. 1992. Marshallian vs. Walrasian stability in an experimental market. Economic Journal 102:437-60.
22. Ramsey, Frank P. 1928. A mathematical theory of saving. Economic Journal 38:543-59.
23. Romer, David. 1996. Advanced macroeconomics. New York: McGraw-Hill.
24. Romer, Paul. 1986. Increasing returns and long-run growth. Journal of Political Economy 94:1002-37.
25. Rosenstein-Rodan, Paul. 1943. Problems of industrialization of eastern and southeastern Europe. Economic Journal 53:202-11.
26. Sala-i-Martin, Xavier. 2002. 15 years of new growth economics: What have we learnt? Journal Economia Chilena 5:5-15.
27. Smith, Vernon. 1962. An experimental study of competitive market behavior. Journal of Political Economy 70:111-37.
28. Temple, Jonathan. 1999. The new growth evidence. Journal of Economic Literature 37:112-56.
29. Van Boening, Mark, and Nathaniel Wilcox. 1996. Avoidable cost: Ride a double auction roller coaster. American Economic Review 86:61-88.
30. Van Boening, Mark, and Nathaniel Wilcox. 2005. A limit of bilateral contracting institutions. Economic Inquiry 43:840-54.
31. Van Huyck, John, Raymond Battalio, and Richard Beil. 1990. Tacit coordination games, strategic uncertainty, and coordination failure. American Economic Review 80:234-48.