Marshallian Vs. Walrasian Stability in an Experimental Market
通过实验检验经济学教科书中的两种市场稳定性概念：瓦尔拉斯稳定性和马歇尔稳定性，探讨它们在何种条件下会导致市场不稳定，为理解经典模型提供实证基础。
The experiments discussed below are an attempt to examine concepts of \nstability as found in economic textbooks. Two concepts of stability, which stem \nfrom two different concepts of market adjustment, seem to have dominated \nthinking. Whilst these two concepts are typically called Walras stability and \nMarshall stability, some controversy exists over the extent to which these two \nmodels represent their respective thinking. No doubt the current formal \nstatements of the theories reflect an evolution of the ideas through the work of \nmany theorists. The terminology is retained for convenience. Regardless of \ntheir origins, these two concepts lead to competing hypotheses about the \nconditions under which market instability will be observed so the subject is a \nnatural one for experimental investigation. Furthermore, since this is the first \nexperimental examination of the stability of equilibria, the strategy is to inquire \nabout stability in the context of these two classical models and to avoid the \ntemptation to attempt to extend them or integrate them with more modern \ntheory. The old models have not been checked. They seem to be an appropriate \nplace to start.