Replication data for: Sunspots in the Laboratory
Principal Investigator(s): View help for Principal Investigator(s) John Duffy; Eric O'N. Fisher
Version: View help for Version V1
Name | File Type | Size | Last Modified |
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LICENSE.txt | text/plain | 14.6 KB | 12/06/2019 10:30:AM |
full_data.xls | application/vnd.ms-excel | 999 KB | 12/06/2019 10:30:AM |
readme.pdf | application/pdf | 19.7 KB | 12/06/2019 10:30:AM |
Project Citation:
Duffy, John, and Fisher, Eric O’N. Replication data for: Sunspots in the Laboratory. Nashville, TN: American Economic Association [publisher], 2005. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-06. https://doi.org/10.3886/E116049V1
Project Description
Summary:
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We show that extrinsic or nonfundamental uncertainty influences markets in a controlled environment. This work provides the first direct evidence of sunspot equilibria. These equilibria require a common understanding of the semantics of the sunspot variable, and they appear to be sensitive to the flow of information. Sunspots always occur in a closed-book call market, but they happen only occasionally in a double auction, where inframarginal bids and offers are observable.
Scope of Project
JEL Classification:
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D51 Exchange and Production Economies
E31 Price Level; Inflation; Deflation
D51 Exchange and Production Economies
E31 Price Level; Inflation; Deflation
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