EXPERIMENTAL MARKETS WITH FRICTIONS
回顾了关于陌生人随机配对、无限期持续的经济体中摩擦市场的实验文献，并报告了一个新实验的结果，重点研究沟通对市场效率的影响。
Abstract Decentralized and impersonal exchange is fundamental to contemporary economies, where many interactions take place among individuals with low levels of information about their counterpart. We review the experimental literature about markets with frictions, where strangers interact in pairs formed at random in economies of indefinite duration. We focus on the impact of communication on the efficiency of the outcome and report results of a new experiment.