Dynamics in Buyer-Seller Markets: Theory and Lab Expreriments

Dynamics in Buyer-Seller Markets: Theory and Lab Expreriments

Wednesday, 02 May 2018, 12:00-13:15

Room: Α2-2

Presenter: Nax Heinrich, ETH Zurich

We study dynamics of price convergence in buyer-seller markets using evolutionary game theory and learning theory. We discuss old and new evidence from controlled lab and online experiments concerning market dynamics. We discuss common features of human decision-making, and the resulting convergence properties of such behaviorally founded models. Particular attention is paid to equilibrium and out-of-equilibrium dynamics.

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