Question: Question 2 Theoretical Predictions versus Results Session 1 {3 points} Assume that session 1 of experiment 1 the following transactions were realized: Transaction# Price ($)

 Question 2 Theoretical Predictions versus Results Session 1 {3 points} Assume

Question 2 Theoretical Predictions versus Results Session 1 {3 points} Assume that session 1 of experiment 1 the following transactions were realized: Transaction# Price ($) Seller Costs ($) Buyer value ($) 1 30 10 40 2 35 30 40 3 18 10 20 4 32 30 40 5 30 10 40 6 32 30 40 7 34 30 40 8 31 10 40 9 35 30 40 10 14 10 20 11 34 10 40 12 32 30 40 13 28 10 40 14 25 10 40 15 35 10 40 16 19 10 20 On the basis of this information (questions 1 and 2), fill in this table: Theoretical prediction Results experiment (question 1) (question 2) Number of transactions Number of sellers that sell per type Low cost ($10): Low cost ($10): type. High cost ($30): High cost ($30): Low value ($20): Low value ($20): High value ($40): High value ($40): Consumer surplus Producer surplus Number of buyers that buy per type. 0, Market Efficiency* 100%

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