This paper investigates the relationship between market overconfidence and occurrence of stock-price bubbles. Sixty … participants traded stocks in ten experimental asset markets. Markets were constructed on the basis of subjects’ overconfidence … bubble measures and trading volume on overconfident markets. Altogether, our data provide evidence that overconfidence has …

This paper presents an online-experiment on overconfidence in the context of financial markets. Our subject pool … participants can be controlled for in our analysis. It turns out that there are stable differences in overconfidence between the … three investor groups. Moreover, investment experience and age have a significant impact on the degree of overconfidence …