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Peer effects and risk sharing in experimental asset markets
Gortner, Paul; Weele, Joël J. van der - 2019
We investigate the effect of introducing information about peer portfolios in an experimental Arrow-Debreu economy. Confirming the prediction of a general equilibrium model with inequality averse preferences, we find that peer information leads to reduced variation in payoffs within peer groups....
Persistent link: https://www.econbiz.de/10012023982
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Experience does not eliminate bubbles : experimental evidence
Kopányi-Peuker, Anita; Weber, Matthias - 2018
. One is a call market experiment in which participants trade assets with each other. The other is a learning …-to-forecast experiment in which participants only forecast future prices, while the trade, which is based on these forecasts, is computerized …. Each experiment comprises three treatments that vary the amount of information about the fundamental value that …
Persistent link: https://www.econbiz.de/10011932581
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Bubbles, crashes and information contagion in large-group asset market experiments
Hommes, Cars H.; Kopányi-Peuker, Anita; Sonnemans, Joep - 2019
We experimentally investigate how price expectations are formed in a large asset market where subjects' only task is to forecast the future price of a risky asset. The realized prices depend on these expectations. We observe small (6 participants) and large markets (about 100 participants). In...
Persistent link: https://www.econbiz.de/10011979625
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Explaining hedge fund investment styles by loss aversion
Siegmann, Adriaan Hendrik; Lucas, André - 2002 - This version: May 7, 2002
Recent research reveals that hedge fund returns exhibit a range of different,possibly non-linear pay-off patterns. It is difficult to qualify all these patternssimultaneously as being rational in a traditional framework for optimal financial decisionmaking. In this paper we present a simple...
Persistent link: https://www.econbiz.de/10011326964
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An dynamic model of investor decision-making
Lee, Carmen; Kräussl, Roman; Lucas, André; Paas, … - 2008
Persistent link: https://www.econbiz.de/10003813717
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A dynamic model of investor decision-making : how adaptation to losses affects future selling decisions
Lee, Carmen; Kräussl, Roman; Lucas, André; Paas, … - 2008
We conduct an experiment to test whether the size of a loss and the time in a losing position affect investors …
Persistent link: https://www.econbiz.de/10011377365
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Why do oaths work? : image concerns and credibility in promise keeping
Kingsuwankul, Sorravich; Tergiman, Chloe; Villeval, … - 2023
We use a laboratory experiment to understand the channels through which honesty oaths can affect behavior and …
Persistent link: https://www.econbiz.de/10014380769
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Interacting agents in finance
Hommes, Cars H. - 2006
Interacting agents in finance represent a behavioral, agent-based approach in which financial markets are viewed as complex adaptive systems consisting of many boundedly rational agents interacting through simple heterogeneous investment strategies, constantly adapting their behavior in response...
Persistent link: https://www.econbiz.de/10011348701
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Herding, A-synchronous updating and heterogeneity in memory in a CBS
Diks, Cees G. H.; Weide, Roy van der - 2003
Persistent link: https://www.econbiz.de/10001884079
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The banker's oath and financial advice
Weitzel, Utz; Kirchler, Michael - 2021
Financial misbehavior is widespread and costly. The Dutch government legally requires every employee in the financial sector to take a Hippocratic oath, the so-called "banker's oath." We investigate whether moral nudges that directly and indirectly remind financial advisers of their oath affect...
Persistent link: https://www.econbiz.de/10012510856