Abstract
Progress in information technology and globalization of world economy enable traders to choose from more than one market exchanges to trade in. This paper investigates the impacts of charging different types of market fees on human traders’ market selection behavior under two markets. The experimental results show that intra-marginal, or high-value human traders selected a market charging lump-sum registration fees more frequently, while extra-marginal traders, or low-value traders, selected a market charging fixed-rate profit fee more often. This is in alignment with previous findings with software trading agents.
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Sohn, Jw., Kwasnica, A.M., Mullen, T. (2012). Human Traders across Multiple Markets: Attracting Intra-marginal Traders under Economic Experiments. In: David, E., Larson, K., Rogers, A., Shehory, O., Stein, S. (eds) Agent-Mediated Electronic Commerce. Designing Trading Strategies and Mechanisms for Electronic Markets. AMEC TADA 2010 2010. Lecture Notes in Business Information Processing, vol 118. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-34200-4_8
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DOI: https://doi.org/10.1007/978-3-642-34200-4_8
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-642-34199-1
Online ISBN: 978-3-642-34200-4
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