Market Institutions and Price Discovery

Charles R. Plott, Edward S. Harkness Professor of Economics and Political Science and Director, Laboratory for Experimental Economics and Political Science, California Institute of Technology, US

• Contents: Acknowledgements Introduction Part I: Introduction and Overviews Part II: Market Institutions, Facilitating Practices and Industrial Organization Part III: Nature of Equilibrium: Price Discovery, Expectations and Stability Index

'Charles R. Plott has a formidable armoury of experience backed up with an inquiring and rigorous intellect: an economist interested in getting clear answers to important questions. Before effectively becoming a full-time experimental economist, he enjoyed a fine reputation as a theorist in the area between political science and economics. By 1986 Plott had acquired a reputation as an insightful experimentalist - inspired and encouraged by Vernon Smith with whom he worked for a period before establishing his own experimental laboratory. Plott's contributions to the field of experimental economics are impressive. From 1981, since the Social Science Citation Index records begin, he has a total of 44 publications listed in this and related fields, many with co-authors who themselves are now established experimentalists. He has clearly stimulated a whole generation of economists into doing high quality experimental research. Many of these 44 papers are classics of their kind. The skill, energy and efficiency with which he operates is impressive.'