Results 271 to 280 of about 769,865 (316)
MARKET EFFICIENCY: EVIDENCE FROM A NO‐BUBBLE ASSET MARKET EXPERIMENT
Pacific Economic Review, 2009 Abstract. We report the results of an experiment that demonstrates that market experience is not necessary to eliminate bubbles in the type of asset markets studied in Smith et al. (1988). We introduce a pre‐market phase in which subjects experience a dividend flow themselves by literally observing and receiving dividends for 12 periods.
Vivian Lei, Filip Vesely
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Asset market bubbles in an experiment with sequential information releases
Review of Behavioral Finance, 2021 PurposeMuch of the author’s understanding of experimental asset market bubbles is based on the Smith, Suchanek and Williams (SSW) design. The purpose of this paper is to find alternative bubble-producing designs, which is a promising path for new insights.Design/methodology/approachThe Smith et al.
Brian D. Kluger
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Experience and Confidence in an Internet‐Based Asset Market Experiment
Southern Economic Journal, 2011 The experience effect in asset markets is one that was thought to be settled. As subjects gained experience with the interface and each other, they typically exhibit fewer instances of mispricing and at lower magnitudes. But questions regarding trading experience are not easy to address in the lab with the typical subject pool since the kind of ...
Marina Fiedler
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Incentive schemes, framing, and market behaviour: Evidence from an asset-market experiment
Journal of Economic Behavior & Organization, 2022 Xuegang Cui, Nick Feltovich, Kun Zhang
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Asset Market Experiments with Diverse Information
SSRN Electronic Journal, 2021 On financial markets, information is a highly demanded resource and processing it to (potentially) generate excess returns drives the activities of many market participants. Not surprisingly, this high relevance of information in markets culminates in a high research interest focusing on how information affects traders' behavior and market outcomes. It
Stöckl, Thomas, Schmidt, Dominik
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Trader characteristics and fundamental value trajectories in an asset market experiment
Journal of Behavioral and Experimental Finance, 2015We report results from an asset market experiment, in which we investigate the relationship between traders’ risk aversion, loss aversion, and cognitive ability and their trading behavior and market outcomes. Greater average risk aversion on the part of traders in the market predicts lower market prices.
Charles Noussair, Adriana Breaban
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Experiments with Financial Markets: Implications for Asset Pricing Theory
The American Economist, 2001 This article surveys financial markets experiments from a particular vantage point, namely, asset pricing theory. The goal is to assess to what extent these experiments have (and could) shed light on the validity of the basic principles of asset pricing theory, namely (i) that markets equilibrate to the point that expected returns are proportional to ...
Peter Bossaerts
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, 2013 The classic hold-up model (Grossman and Hart 1986) predicts that allocations of asset ownership which expose a party to expropriation reduce relationship specific investments by this party. In the empirical context of t he housing market, I show that the
Georg Gebhardt
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Market experiments with multiple assets: A survey
SSRN Electronic Journal, 2021 John Duffy, Jean Paul Rabanal, Olga Rud
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