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La contribution de l'économie expérimentale à l'analyse de l'efficacité des marchés

Author

Listed:
  • Stéphane Robin

    (GATE Lyon Saint-Étienne - Groupe d'Analyse et de Théorie Economique Lyon - Saint-Etienne - ENS de Lyon - École normale supérieure de Lyon - UL2 - Université Lumière - Lyon 2 - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon - UJM - Université Jean Monnet - Saint-Étienne - CNRS - Centre National de la Recherche Scientifique)

  • Carine Staropoli

    (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

Abstract

The first market experiments conducted by Vernon Smith [1962] have highlighted the importance of market institutions for the efficiency of exchanges. These institutions organize the flows of information between market participants and incentivize individual decisions. They have an impact on prices' dynamics, trading volume, allocative and informational efficiency of the market. Over the past thirty years, experimental economics became an empirical method used to design market in various industries. The laboratory is used as a testbed to study the properties and measure the performances of any institutions in a simple, controlled and replicable environment. In this paper, we illustrate this approach by reviewing the main researches conducted in the lab on the design of electricity markets.

Suggested Citation

  • Stéphane Robin & Carine Staropoli, 2013. "La contribution de l'économie expérimentale à l'analyse de l'efficacité des marchés," Post-Print halshs-00916937, HAL.
    • Handle: RePEc:hal:journl:halshs-00916937
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00916937
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    Keywords

    Economie expérimentale; Design de marché; Institution de marché; Marchés de l'électricité;
    All these keywords.

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