PARAMETERS FOR 981130 experiment
type/ number private Z market private X market private Y market endowments
consumer 1
eight
could sell for cents = 100 Z
(buy orders were in private market)
could buy for
cents (approx)
total cents =
9X+2X2
(individual orders were approximately the derivative of this)
could buy for
cents (approx)
total cents =
32Y + 5/2 Y2
(individual orders were approximately the derivative of this)
10 "bonds" (50:50 chance at 50 cents or nothing)
300 francs
consumer 2
eight
could sell for cents = 100 Z
(buy orders were in private market)
could buy for
cents (approx)
total cents =
9X+2X2
(individual orders were approximately the derivative of this)
could buy for
cents (approx)
total cents =
30Y+ 5/2Y2
(individual orders were approximately the derivative of this)
10 "bonds" (50:50 chance at 50 cents or nothing)
300 francs
producer 1
eight
could produce from X and Y
Z =  2 X1/2 Y1/3
could sell
1 at 300
7 and 100
many at 75
could sell
6 at 100
many at 75
10 "bonds" (50:50 chance at 50 cents or nothing)
300 francs
producer 2
eight
could produce from X and Y
Z =  2.3 X1/3 Y1/2
could sell
1 at 150
6 at 100
many at 75
could sell
6 at 100
many at 75
10 "bonds" (50:50 chance at 50 cents or nothing)
300 francs
comments The markets were closed for a time due to a scheduled power outage.
During a one hour period the experimenter purchased from all markets in sufficient quantities to double the money supply.

Document converted from word 8 by MSWordView (mswordview 0.1.0)
MSWordView written by Caolan McNamara