This paper examines experimentally two common conjectures in the popular literature on financial markets: that they are swayed by emotion and that they behave like a 'crowd'. We find consistent evidence that deviations of prices from fundamental value depend on the emotion of excitement and on...

In this experiment, individuals recurrently play coordination games that are similar to, but not identical with, one another. Initially, subjects are no more successful than if they had acted at random, but coordination rates gradually increase to levels similar to those found in one-shot games...

Social information 'nudges' concerning how others perform typically boost individual performances in experiments with one group reference point. However, in many natural settings, sometimes due to policy, there are several such group reference points. We address the complications that such...

We report an experimental test of level-k theory, applied to three simple games with non-neutral frames: Coordination, Discoordination and Hide and Seek. Using the same frame for all three games, we derive hypotheses that apply across the games and are independent of prior assumptions about...

Do the insights into human behavior generated by laboratory experiments hold outside the lab? This is the crucial question of external validity that naturally troubles both experimentalists and their critics. We address this question by adopting Popper's injunction that hypotheses should be...

The groundbreaking MIT report (1999) was the first study to quantify the disadvantages faced by female scientists. This has been followed by studies of gender pay differentials amongst academics working in the humanities (US), economics (UK and US) and the sciences (US). This paper provides the...