Instability of Equilibria in Experimental Markets: Upward-Sloping Demands, Externalities, and Fad-Like Incentives

Open Access

1 January 1999

journal article
Published by JSTOR in Southern Economic Journal

Vol. 65 (3) , 405
https://doi.org/10.2307/1060807

Abstract

The objective of the paper is to study markets in which the value of the activity to any one person increases with the level with which the activity is undertak...

Keywords

INSTABILITY
SLOPING DEMANDS
UPWARD SLOPING
FAD LIKE
EXPERIMENTAL MARKETS
LIKE INCENTIVES
EQUILIBRIA

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