Field experiments in markets

There is a new NBER working paper from Omar Al-Ubaydli and John A. List:

This is a review of the literature of field experimental studies of markets. The main results covered by the review are as follows: (1) Generally speaking, markets organize the efficient exchange of commodities; (2) There are some behavioral anomalies that impede efficient exchange; (3) Many behavioral anomalies disappear when traders are experienced.

This is the best survey article on these claims that I know.


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