Charles A. Holt is the A. Willis Robertson Professor of Political Economy at the University of Virginia. His books include Experimental Economics (with Douglas D. Davis), Markets, Games, and Strategic Behavior, and Quantal Response Equilibrium (with Jacob K. Goeree and Thomas R. Palfrey) (all Princeton). Erica R. Sprott is a doctoral student at the Harvard Kennedy School and a National Science Foundation Graduate Research Fellow.

• PrefaceChapter 1 Trust, Reciprocity, and FairnessChapter 2 Specialization, Production, and Gains from TradeChapter 3 Demand: Functions, Shifts, and Marginal AnalysisChapter 4 Market Equilibrium and the Role of PriceChapter 5 Opportunity Cost and the Supply SideChapter 6 Cost Functions and Supply for a Price TakerChapter 7 Elasticity, Marginal Revenue, and MonopolyChapter 8 Social Dilemmas and Public GoodsChapter 9 Common Pool Dilemmas: Congestion and CorruptionChapter 10 Rent Seeking and Non-Market AllocationsChapter 11 Risk and Loss AversionChapter 12 Games of Coordination, Cooperation, and CompetitionChapter 13 Auctions and the Winner’s CurseChapter 14 Banking in the Shadow of Behavioral InstabilityChapter 15 Asset Markets and Present ValueChapter 16 Macro Markets for Labor and Consumer GoodsIndex

Charles A. Holt is the A. Willis Robertson Professor of Political Economy at the University of Virginia. His books include Experimental Economics (with Douglas D. Davis), Markets, Games, and Strategic Behavior, and Quantal Response Equilibrium (with Jacob K. Goeree and Thomas R. Palfrey) (all Princeton). Erica R. Sprott is a doctoral student at the Harvard Kennedy School and a National Science Foundation Graduate Research Fellow.

• PrefaceChapter 1 Trust, Reciprocity, and FairnessChapter 2 Specialization, Production, and Gains from TradeChapter 3 Demand: Functions, Shifts, and Marginal AnalysisChapter 4 Market Equilibrium and the Role of PriceChapter 5 Opportunity Cost and the Supply SideChapter 6 Cost Functions and Supply for a Price TakerChapter 7 Elasticity, Marginal Revenue, and MonopolyChapter 8 Social Dilemmas and Public GoodsChapter 9 Common Pool Dilemmas: Congestion and CorruptionChapter 10 Rent Seeking and Non-Market AllocationsChapter 11 Risk and Loss AversionChapter 12 Games of Coordination, Cooperation, and CompetitionChapter 13 Auctions and the Winner’s CurseChapter 14 Banking in the Shadow of Behavioral InstabilityChapter 15 Asset Markets and Present ValueChapter 16 Macro Markets for Labor and Consumer GoodsIndex

Charles A. Holt is the A. Willis Robertson Professor of Political Economy at the University of Virginia. His books include Experimental Economics (with Douglas D. Davis), Markets, Games, and Strategic Behavior, and Quantal Response Equilibrium (with Jacob K. Goeree and Thomas R. Palfrey) (all Princeton). Erica R. Sprott is a doctoral student at the Harvard Kennedy School and a National Science Foundation Graduate Research Fellow.

• PrefaceChapter 1 Trust, Reciprocity, and FairnessChapter 2 Specialization, Production, and Gains from TradeChapter 3 Demand: Functions, Shifts, and Marginal AnalysisChapter 4 Market Equilibrium and the Role of PriceChapter 5 Opportunity Cost and the Supply SideChapter 6 Cost Functions and Supply for a Price TakerChapter 7 Elasticity, Marginal Revenue, and MonopolyChapter 8 Social Dilemmas and Public GoodsChapter 9 Common Pool Dilemmas: Congestion and CorruptionChapter 10 Rent Seeking and Non-Market AllocationsChapter 11 Risk and Loss AversionChapter 12 Games of Coordination, Cooperation, and CompetitionChapter 13 Auctions and the Winner’s CurseChapter 14 Banking in the Shadow of Behavioral InstabilityChapter 15 Asset Markets and Present ValueChapter 16 Macro Markets for Labor and Consumer GoodsIndex