Haruvy, Ernan; Lahav, Yaron; Noussair, Charles N. - In: American Economic Review 97 (2007) 5, pp. 1901-1920
We elicit traders' predictions of future price trajectories in repeated experimental markets for a 15-period-lived asset. We find that individuals' beliefs about prices are adaptive, and primarily based on past trends in the current and previous markets in which they have participated. Most...