POSTED OFFER MARKET EXPERIMENT INSTRUCTIONS
You will participate in a market in which some of you will be buyers and some of you will be sellers in a sequence of several "trading periods." Before the experiment begins, you will be told if you are a buyer or a seller. You keep the same role for the entire experiment. During a trading period, buyers may purchase units of a good and sellers may sell units of a good. These instructions explain more about the market and how trades occur.