Calculate the efficiency of each trading period (i.e. each round).

Table 1 Treatment 1 Treatment 2 Buyer Seller Buyer Seller Values Costs Values Costs 9 3 13 5 8 4 13 7 7 4 12 7 6 4 10 8 6 5 9 9 5 8 8 9 4 8 8 10 3 8 7 10 +++ o O ON Treatment 1 4 Table 2 Trading Transaction Period Price 5.99 6 1 6 6 5.50 2 5.50 5.75 5 5.25 3 5.25 5.50 5.85 5 6 8 5 5.25 6 5.99 5 5.98 5.85 5.85 7 8 8 6 9 9.01 9 7 8.50 7 9.90 9 8.01 Buyer Value 8 9 7 6 8 9 6 9 7 8 6 6 6 8 9 7 6 7 9 8 6 6 8 8 13 10 12 13 13 12 10 13 9 Seller Cost 4 4 4 3 4 4 4 5 3 4 4 4 3 4 8 4 4 4. 3 4 5 4 5 7 7 9 9 8 5 8 9 7 7 2 8 | 9 9 9 8.50 8.49 9.01 9.01 8 8.25 8.99 8 9.20 8.99 8 8.01 13 12 10 13 13 13 10 12 9 13 10 13 12 9 7 7 8 5 5 9 7 8 7 5 9 7 8 7 10 Table 1 Treatment 1 Treatment 2 Buyer Seller Buyer Seller Values Costs Values Costs 9 3 13 5 8 4 13 7 7 4 12 7 6 4 10 8 6 5 9 9 5 8 8 9 4 8 8 10 3 8 7 10 +++ o O ON Treatment 1 4 Table 2 Trading Transaction Period Price 5.99 6 1 6 6 5.50 2 5.50 5.75 5 5.25 3 5.25 5.50 5.85 5 6 8 5 5.25 6 5.99 5 5.98 5.85 5.85 7 8 8 6 9 9.01 9 7 8.50 7 9.90 9 8.01 Buyer Value 8 9 7 6 8 9 6 9 7 8 6 6 6 8 9 7 6 7 9 8 6 6 8 8 13 10 12 13 13 12 10 13 9 Seller Cost 4 4 4 3 4 4 4 5 3 4 4 4 3 4 8 4 4 4. 3 4 5 4 5 7 7 9 9 8 5 8 9 7 7 2 8 | 9 9 9 8.50 8.49 9.01 9.01 8 8.25 8.99 8 9.20 8.99 8 8.01 13 12 10 13 13 13 10 12 9 13 10 13 12 9 7 7 8 5 5 9 7 8 7 5 9 7 8 7 10