Access
This article is part of Nature's premium content.
Published online 13 November 2002 | Nature | doi:10.1038/news021111-3
News
Cards deal blow to market theory
Rare real-life test of economics tenet finds flaws in its assumptions.
Conventional economic theory does a fair job of predicting prices in simple buying and selling transactions. But it fails to account for the influence of traders' experience on a market's efficiency at redistributing goods.
To read this story in full you will need to login or make a payment (see right).
Comments
Reader comments are usually moderated after posting. If you find something offensive or inappropriate, you can speed this process by clicking 'Report this comment' (or, if that doesn't work for you, email redesign@nature.com). For more controversial topics, we reserve the right to moderate before comments are published.