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 bid 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.

Note that in today's experiment all offers are in parcels. The parcel size will vary during the experiment. You can chose the price, but not the quantity.

The current Bids/Offers in the market (ie: sent by all participants) is shown in current bid/offer stack (as shown below.). Notice that the offers to sell are in descending price order (cheapest offers at the bottom), and that Bids to Buy are in ascending price order (highest bids at the top).

To accept the lowest priced offer, or the highest bid use the "accept" buttons. They will automatically try to accept the lowest priced valid offer or the highest priced valid bid. (Note: If more than one participant has attempted to "accept" at the same time, only one will get the trade. Watch to see if a bid or offer turns Green (which means you were successful) or Red (which means someone else accepted it.)

NOTE: With the offer stack shown above, if you clicked "Accept Lowest Offer" - the offer accepted would be the offer at $33 from G2.

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/offer.
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 1/2 a second it will disappear from the stack.
You can inspect what trades you have performed during the experiment using the "Trades" tab.

ORANGE Means the bid/offer is not currently valid. In today's experiment invalid bids/offers are deleted.

RED
Means that someone else has just accepted that bid/offer, and hence it is no longer valid.
After 1/2 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 1 offer in the market at a time. If you send a new offer it will replace any offer that you currently have in the bid/offer stacks.

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

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Last Modified: 18 October 2007