Bao, T.; Hommes, C.H.; Makarewicz, T.A. - Center for Nonlinear Dynamics in Economics and Finance … - 2014
This experiment compares the price dynamics and bubble formation in an asset market with a price adjustment rule in three treatments where subjects (1) submit a price forecast only, (2) choose quantity to buy/sell and (3) perform both tasks. We find that bubbles emerge in all these treatments,...