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Asymmetric Surplus Distribution and the Price Convergence Path in Posted Offer Markets: A Note

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URI: https://hdl.handle.net/10016/5329
ISSN: 0165-1765
DOI: 10.1016/0165-1765(92)90097-I
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asymmetric_kujal_EL_1992_ps.pdf (939.78 KB)
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1992
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Elsevier
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We report results from five Posted-Offer experiments with firm-specific quotas. The average contract price converges from below the competitive equilibrium. Thus, the independence of the contract price convergence path from surplus distribution is questioned in our results.
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Economics Letters. 1992, vol.39, nº 1, p.33-36
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