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Comparing Oral and Electronic Double Auction Markets: An Experimental Approach

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  • Roberts, Clark A.
  • Forster, D. Lynn

Abstract

The performances of electronic and double auction markets are compared. Experimental markets are conducted, with replication, using electronic and oral double auctions. Performance measures incorporate price levels, price stability, and quantities traded. Performance measures are significantly higher for electronic than oral markets.

Suggested Citation

  • Roberts, Clark A. & Forster, D. Lynn, 1986. "Comparing Oral and Electronic Double Auction Markets: An Experimental Approach," 1986 Annual Meeting, July 27-30, Reno, Nevada 278101, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea86:278101
    DOI: 10.22004/ag.econ.278101
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    References listed on IDEAS

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    1. Williams, Arlington W, 1980. "Computerized Double-Auction Markets: Some Initial Experimental Results," The Journal of Business, University of Chicago Press, vol. 53(3), pages 235-258, July.
    2. Charles R. Plott & Vernon L. Smith, 1978. "An Experimental Examination of Two Exchange Institutions," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 45(1), pages 133-153.
    3. Smith, Vernon L, 1976. "Experimental Economics: Induced Value Theory," American Economic Review, American Economic Association, vol. 66(2), pages 274-279, May.
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