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Evaluation Periods and Asset Prices in a Market Experiment [PDF]
The Journal of Finance, 2002 We test whether the frequency of feedback information about the performance of an investment portfolio and the flexibility with which the investor can change it influence her risk attitude in markets.In line with the prediction of Myopic Loss Aversion ...
Gneezy, U., Kapteyn, A., Potters, J.J.M.
core +15 more sources
Fundamental Value Trajectories and Trader Characteristics in an Asset Market Experiment [PDF]
SSRN Electronic Journal, 2014 Abstract: We report results from an asset market experiment, in which we investigate how the time path of the fundamental value trajectory affects the level of adherence to fundamentals. In contrast to previous experiments with long-lived assets, there is a phase in which fundamental values are constant before the onset of a trend.
Breaban, A.G., Noussair, C.N.
core +11 more sources
Information Mirages and Financial Contagion in Asset Market Experiment [PDF]
Journal of Economic Studies, 2014 We study financial contagion in an experimental market. There are two assets and an exogenous shock reduces the value of one of the two assets. Whether and how the other asset is affected depends on the correlation between the underlying values of the ...
Noussair, C.N., Xu, Yilong
core +9 more sources
Can Asset Markets Be Manipulated? A Field Experiment With Racetrack Betting [PDF]
Journal of Political Economy, 1998 To test whether naturally occurring markets can be strategically manipulated, $500 and $1,000 bets were made, then canceled, at horse racing tracks.
Camerer, Colin F.
core +8 more sources
Bubbles and Incentives: An Experiment on Asset Markets [PDF]
SSRN Electronic Journal, 2012 We explore the effects of competitive incentives and of their time horizon on the evolution of both asset prices and trading activity in experimental asset markets. We compare (i) a no-bonus treatment; (ii) a short-term bonus treatment in which bonuses are assigned to the best performers at the end of each trading period; (iii) a long-term bonus ...
Katerina Straznicka +3 more
+14 more sources
Ambiguity in Asset Markets: Theory and Experiment [PDF]
Review of Financial Studies, 2010 This paper studies the impact of ambiguity and ambiguity aversion on equilibrium asset prices and portfolio holdings in competitive financial markets. It argues that attitudes toward ambiguity are heterogeneous across the population, just as attitudes toward risk are heterogeneous across the population, but that heterogeneity of attitudes toward ...
P. Bossaerts +3 more
openaire +6 more sources
Trading and cognition in asset markets: An eye-tracking experiment
Journal of Economic Behavior & Organization, 2023 International ...
Cornand, Camille +2 more
openaire +6 more sources
GIMS—Software for asset market experiments [PDF]
Journal of Behavioral and Experimental Finance, 2015 In this article we lay out requirements for an experimental market software for financial and economic research. We then discuss existing solutions. Finally, we introduce GIMS, an open source market software which is characterized by extensibility and ease of use, while offering nearly all of the required functionality.
Stefan Palan
openaire +4 more sources
Simulation-driven experimental hypotheses and design : a study of price impact and bubbles [PDF]
, 2022 A crucial aspect of every experiment is the formulation of hypotheses prior to data collection. In this paper, we use a simulation-based approach to generate synthetic data and formulate the hypotheses for our market experiment and calibrate its ...
Bottazzi, Giulio +3 more
core +1 more source
Experience and Brokerage in Asset Markets: Evidence from Art Auctions [PDF]
Financial Management, 2016 AbstractFocusing on the art market, where auction houses act as brokers between art sellers and buyers, we investigate whether more experienced brokers achieve better performance as information providers and matchmakers. We find that houses with artist‐specific experience are more likely to achieve a sale and provide more precise pre‐sale estimates ...
Bruno, Brunella +2 more
openaire +7 more sources