Buying and Selling in the Market

In this experiment you need to be able to sell Units in order make a profit.

Trading is achieved by either:

You sending an "Offer to Sell Units" into the market, and this offer being accepted by another participant.

By you accepting a bid to buy that another participant has already put into the market.

In today's experiment, Suppliers can only offer to sell, or accept bids to buy. You cannot make bids to buy, or accepts other participant's offers to sell.

To send an "offer to sell" to the market you use the "Send Offer" panel shown below. In today's exercise, you only have the option to chose the price, not the quantity, which is fixed at 250 units per offer.

The current Bids/Offers in the market (ie: sent by all participants) is shown in current bid/offer stack (as shown below.)

Bids and offers in the stacks are colour coded as follows:

BLACK	Bids/Offers that are currently valid are shown in black. You can choose to accept a black bid. A Bid/Offer lapses after 10 days, and will then disappear from the stack. All Bids/Offers lapse at the end of the year.
GREEN	This a bid/offer has just been accepted, and you are a party to the trade. This can occur EITHER by you accepting a bid/offer, OR, by some-one else accepting a bid/offer that you previously put in the market. After 3 seconds it will disappear from the stack. You can inspect what trades you have performed during the experiment using the "Trades" tab.
RED	Means that someone else has just accepted that bid/offer, and hence it is no longer valid. After 3 seconds it will disappear from the stack.

At the end of the year, all bids/offers lapse and are removed from the market.

NOTE: In today's experiment each participant is allowed to have ONLY one bid and one offer in the market at a time. If you send a new bid or offer it will replace any bid/offer that you currently have in the bid/offer stacks.

When you have read the above, please proceed to the next page.

Next Page (Login and Commence Training Session)

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Last Modified: 18 October 2007