Bao, Te; Hommes, Cars; Sonnemans, Joep; Tuinstra, Jan - In: Journal of Economic Dynamics and Control 36 (2012) 8, pp. 1101-1120
Recent studies suggest that the type of strategic environment or expectation feedback can have a large impact on whether the market can learn the rational fundamental price. We present an experiment where the fundamental price experiences large unexpected shocks. Markets with negative...