A review of bubbles and crashes in experimental asset markets
S Palan - A Collection of Surveys on Market Experiments, 2013 - Wiley Online Library
A Review of Bubbles and Crashes in Experimental Asset Markets Page 1 10 A REVIEW OF
BUBBLES AND CRASHES IN EXPERIMENTAL ASSET MARKETS Stefan Palan Karl-Franzens …
BUBBLES AND CRASHES IN EXPERIMENTAL ASSET MARKETS Stefan Palan Karl-Franzens …
Experimental asset markets: A survey of recent developments
O Powell, N Shestakova - Journal of Behavioral and Experimental Finance, 2016 - Elsevier
We review the latest research on experimental asset markets, where the values of the traded
assets are homogeneous across all agents. Such markets have been shown to be prone to …
assets are homogeneous across all agents. Such markets have been shown to be prone to …
Ethnic diversity deflates price bubbles
SS Levine, EP Apfelbaum, M Bernard… - Proceedings of the …, 2014 - National Acad Sciences
Markets are central to modern society, so their failures can be devastating. Here, we
examine a prominent failure: price bubbles. Bubbles emerge when traders err collectively in …
examine a prominent failure: price bubbles. Bubbles emerge when traders err collectively in …
The effect of short selling on bubbles and crashes in experimental spot asset markets
E Haruvy, CN Noussair - The Journal of Finance, 2006 - Wiley Online Library
ABSTRACT A series of experiments illustrate that relaxing short‐selling constraints lowers
prices in experimental asset markets, but does not induce prices to track fundamentals. We …
prices in experimental asset markets, but does not induce prices to track fundamentals. We …
Thar she bursts: Reducing confusion reduces bubbles
M Kirchler, J Huber, T Stöckl - American Economic Review, 2012 - aeaweb.org
To explore why bubbles frequently emerge in the experimental asset market model of Smith,
Suchanek, and Williams (1988), we vary the fundamental value process (constant or …
Suchanek, and Williams (1988), we vary the fundamental value process (constant or …
Price bubbles in laboratory asset markets with constant fundamental values
C Noussair, S Robin, B Ruffieux - Experimental Economics, 2001 - Springer
We construct asset markets that are similar to those studied by Smith, Suchanek and
Williams (Econometrica. 56, 1119–1151) in which bubbles and crashes tended to occur. The …
Williams (Econometrica. 56, 1119–1151) in which bubbles and crashes tended to occur. The …
Bubbles and financial professionals
The efficiency of financial markets and their potential to produce bubbles are central topics
in academic and professional debates. Yet, little is known about the contribution of financial …
in academic and professional debates. Yet, little is known about the contribution of financial …
The effect of earned versus house money on price bubble formation in experimental asset markets
Does house money exacerbate price bubbles? We compare house money asset market
experiments with an earned money treatment where initial portfolios are constructed from a …
experiments with an earned money treatment where initial portfolios are constructed from a …
Cognitive bubbles
C Bosch-Rosa, T Meissner… - Experimental Economics, 2018 - Springer
Abstract Smith et al.(Econometrica 56 (5): 1119, 1988) reported large bubbles and crashes
in experimental asset markets, a result that has been replicated many times. Here we test …
in experimental asset markets, a result that has been replicated many times. Here we test …
Expectations and bubbles in asset pricing experiments
We present results on expectation formation in a controlled experimental environment. In
each period subjects are asked to predict the next price of a risky asset. The realized market …
each period subjects are asked to predict the next price of a risky asset. The realized market …