Website
http://dataportal.arc.gov.au/NCGP/API/grants/DP140100274
Funding Status
Closed
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Funded Activity Summary
Posted prices, bargaining and auctions: an experimental examination. This project uses economic methods to investigate how trading institutions affect prices and efficiency. It examines markets with directed search: buyers visit sellers based on any information they have. Simultaneous buyer choices and sellers’ capacity constraints lead to “frictions” where not all profitable exchanges occur - more realistic than the usual “frictionless” assumption. The project will vary: whether sellers can post prices in advance; and, whether and how negotiation occurs based on how many buyers (one vs two or more) visit a seller. The project will use results from auction, bargaining, game and search theories, and new analysis, to form predictions, which will be tested using experiments. The results should have implications for labour and competition policies.Funded Activity Details
Start Date: 2014
End Date: 12-2019
Funding Scheme: Discovery Projects
Funding Amount: $230,000.00
Funder: Australian Research Council
Research Topics
ANZSRC Field of Research (FoR)
Experimental Economics | Applied Economics |
ANZSRC Socio-Economic Objective (SEO)
Expanding Knowledge in Economics | Preference, Behaviour and Welfare
