We investigate the informational content of prices in financial asset markets. To do so, we
use a large number of market experiments in which the amount of information held by …

We attempt to replicate a seminal paper that offered support for the rational expectations
hypothesis and reported evidence that markets with certain features aggregate dispersed …

We study the information aggregation process in a laboratory financial market where traders
have access to costly private and free public imperfect information. The public disclosure …

Markets are often viewed as a tool for aggregating disparate private knowledge, a stance
supported by past laboratory experiments. However, traders' acquisition cost of information …

The efficient market hypothesis predicts that asset prices reflect all available information.
Recent experimental work found the rational expectation model to outperform the prior …

We study asset pricing in a setting where correct valuation of securities requires market
participants to solve instances of the 0-1 knapsack problem, a computationally “hard” …

We design an experiment to study the effects of dark trading on incentives to acquire costly
information, price efficiency, market liquidity, and investors' earnings in a financial market …

How are asset price volatility and liquidity impacted by public perception of the economic
state and by market competitivity? We wish to understand the direct impacts as well as …

We design an experiment to analyze the consequences of dark trading in a financial market.
The channel through which dark trading affects market efficiency depends critically on how …

We test in a controlled laboratory environment whether traders in a bilateral exchange
internalize the impact of their actions on market prices better than in a large market. In this …