Economics - The promise of prediction markets (2008)
Arrow, Kenneth J., Forsythe, Robert, Gorham, Michael, Hahn, Robert, Hanson, Robin, Ledyard, John O., ...
The ability of groups of people to make predictions is a potent research tool that should be freed of unnecessary government restrictions.
Andrew F. Daughety, Robert Forsythe
In this paper we examine the robustness of existing models of agent decision making which rely on the assumption of common knowledge. The research we report on involves testing equilibria predicted...
1 Results from a Dozen Years of Election Futures Markets Research (2007)
Joyce Berg, Robert Forsythe, Forrest Nelson, Thomas Rietz
Introduction and description of election futures markets The Iowa Electronic Markets are small-scale,
Acknowledgments: We thank Menesh Patel, Bill Rankin and Nick Rupp for (2000)
Raymond Battalio, Larry Samuelson, John Van Huyck, Dan Friedman, Robert Forsythe, Paul Straub, ...
Abstract: This paper reports an experiment comparing three stag hunt games that have the same best-response correspondence and the same expected payoff from the mixed equilibrium, but differ in the...
Markets as Predictors of Election (1998)
Outcomes Campaign Events, Robert Forsythe, Murray Frank, Thomas W. Ross
This paper makes use of some of these data to study two sets of questions about trader behaviour. First, according to the traders and the Market, what were the significant events of the 1993 election...
An Experimental Analysis of Strikes in Bargaining Games with One-Sided Private Information.
Forsythe, Robert, Kennan, John, Sopher, Barry
The authors study two-player, pie-splitting games in which one player knows the pie and the other knows only its probability distribution. The authors compare treatments in which incentive-efficient...
Do polls simply measure intended voter behavior or can they affect it and, thus, change election outcomes? Do candidate ballot positions or the results of previous elections affect voter behavior? We...
An Experimental Study of Voting Rules and Polls in Three-Way Elections
This paper reports experiments designed to help resolve longstanding controversies about the comparison of voting rules for multi-candidate elections. By paying subjects conditionally on election...
Anatomy of an Experimental Political Stock Market.
Forsythe, Robert, Forrest Nelson, George R. Neumann, Jack Wright
Results from the Iowa Political Stock Market are analyzed to ascertain how well markets work as aggregators of information. The authors find that the market worked extremely well, dominating opinion...
Forsythe, Robert, Suchanek, Gerry L
The authors demonstrate that if stockholders' information about unowned firms is limited to that revealed in the market, then there is no set of decision rules for firms that will decentralize...
An Experimental Examination of Auction Mechanisms for Discrete Public Goods.
Ferejohn, John A., Forsythe, Robert, Noll, Roger G., Palfrey, Thomas R.
Cooperation without Reputation: Experimental Evidence from Prisoner's Dilemma Games
Cooper, Russell, DeJong, Douglas V., Forsythe, Robert, Ross, Thomas W.
Information Aggregation in an Experimental Market.
Forsythe, Robert, Lundholm, Russell
In this study, the authors report the results from laboratory asset markets designed to test the rational expectations hypothesis that markets aggregate and transmit the information of differentially...
Forward Induction in the Battle-of-the-Sexes Games.
Cooper, Russell, Douglas V. DeJong, Robert Forsythe, Thomas W. Ross
This paper provides experimental evidence on forward induction as a refinement criterion. In the basic extensive form, one of the two players chooses to play a battle-of-the-sexes game or to receive...
Forward induction in coordination games
Cooper, Russell, De Jong, Douglas V., Forsythe, Robert, Ross, Thomas W.
Theories and Tests of "Blind Bidding" in Sealed-Bid Auctions
Robert Forsythe, R. Mark Isaac, Thomas R. Palfrey
In this article we report the results from a series of laboratory markets in which sellers have better information about the quality of an item than any of the potential buyers. Sellers may...
Communication in the Battle of the Sexes Game: Some Experimental Results
Russell Cooper, Douglas V. DeJong, Robert Forsythe, Thomas W. Ross
We report experimental results on the role of preplay communication in a one-shot, symmetric battle of the sexes game. We conducted games in which there was no communication, and we studied the...
Robert Forsythe, Murray Frank, Vasu Krishnamurthy, Thomas W. Ross
Economists believe that markets are efficient aggregators of information. The 1993 UBC Election Stock Market was designed to use this ability to predict the outcome of the 1993 Canadian federal...
A laboratory investigation of alternative transfer pricing mechanisms
Dejong, Douglas V., Forsythe, Robert, Kim, Jae-Oh, Uecker, Wilfred C.
Cheap Talk, Fraud, and Adverse Selection in Financial Markets: Some Experimental Evidence.
Forsythe, Robert, Lundholm, Russell, Rietz, Thomas
We examine communication in laboratory games with asymmetric information. Sellers know true asset qualities. Potential buyers only know the quality distribution. Prohibiting communication, we...
Results from a Dozen Years of Election Futures Markets Research
Berg, Joyce, Forsythe, Robert, Nelson, Forrest, Rietz, Thomas, Charles R. Plott, Vernon L. Smith
Selection Criteria in Coordination Games: Some Experimental Results
Tom Ross, Russell Cooper, Douglas V. DeJong, Robert Forsythe
We study the selection of an equilibrium for coordination games: symmetric, simultaneous move, complete information games which have multiple, Pareto-ranked Nash equilibria. We design and experiment...