Market Structure and Market Efficiency in Experimental Economics Review

The survey on efficiency of market and structure of market in experimental economics was explored by Chamberline in 1948.Through a great number of experiments,economists have been demonstrated that not only the conventional wisdom of market structure,but also the trading institutions may exert major influence on the market outcomes.Moreover,a market structure which even does not meet the hypothesis of traditional competitive market can produce efficiency.This article reviews the researches concerning market structure and market efficiency in experimental economics,to expose the factors which can affected the market efficiency.The conclusion shows:even if the market does not meet the strict assumptions of perfect competition,is also likely to be fully competitive market equilibrium,and thus achieve the optimal allocation.And,for the market structure——perfect competition,monopoly and oligopoly Experimental studies have shown that market:not as the traditional model of classical economics,said:Only fully competitive market structure to achieve effective allocation of resources,monopolize the market efficiency not entirely consistent with the model said.Unlike the classical economics,experimental economics,the transaction system as an exogenous variable,that its end will also have a great impact on market efficiency.