22 Jul WHAT IS THE BEST ADVICE ABOUT TIMING TO OFFER TO PARTICIPANTS IN THE NEXT ROUND OF THIS EXPERIMENT?
In the end the professor decided to impose a pricec ceiling of $8.50. Here once again are the buy Show more In the end the professor decided to impose a pricec ceiling of $8.50. Here once again are the buyer values and seller costs together with a figure showing the actual trades that took place in the first round of trading. What is the best advice about timing to offer to participants in the next round of this experiment? a. Buyers should submit a bid to buy of 8.50 and do so as soon as possible so that they have the best chance of getting a trade. It doesnt matter when sellers submit their prices. b. In the experiment with the price ceiling of 8.50 it does not matter when buyers submit their bids or when sellers submit their asking prices. c. Sellers should submit an asking price of 8.50 and do so as soon as possible so that they have the best chance of getting a trade. It doesnt matter when buyers submit their bids. Show less
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