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When do fiscal consolidations lead to consumption booms? : lessons from a laboratory experiment
Geiger, Martin; Luhan, Wolfgang J.; Scharler, Johann - 2015
According to the expectations channel, a fiscal consolidation may give rise to less contractionary, or even … design a laboratory experiment to study the conditions under which the expectations channel operates. Our results indicate … consumption, which supports the expectations channel. We also find that the expectations channel is more pronounced if the fiscal …
Persistent link: https://www.econbiz.de/10010509128
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No response to changes in marginal incentives in one-shot public good experiments
Struwe, Natalie; Blanco, Esther; Walker, James - 2023
group earnings. Based on a total sample size of 952 participants, we find that, unlike results from previous experiments …
Persistent link: https://www.econbiz.de/10014299587
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Home victory for Brazil in the 2014 FIFA World Cup
Zeileis, Achim; Leitner, Christoph; Hornik, Kurt - 2014
After 36 years the FIFA World Cup returns to South America with the 2014 event being hosted in Brazil (after 1978 in Argentina). And as in all previous South American FIFA World Cups, a South American team is expected to take the victory: Using a bookmaker consensus rating - obtained by...
Persistent link: https://www.econbiz.de/10010356725
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The inflow-effect : trader inflow and bubble formation in asset markets
Kirchler, Michael; Bonn, Caroline; Huber, Jürgen; … - 2014 - This version: August 5, 2014
We investigate the impact of trader and cash inflow on bubble formation in asset markets with a novel design featuring heterogeneous information and a constant fundamental value. Implementing seven treatments we find that (i) only the joint inflow of traders and cash triggers bubbles...
Persistent link: https://www.econbiz.de/10010402768
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Cash inflow and trading horizon in asset markets
Razen, Michael; Huber, Jürgen; Kirchler, Michael - 2016 - This version: March 30, 2016
It is conjectured that one of the major ingredients of historic financial bubbles was the inflow of money in various forms. We run 36 laboratory asset markets and investigate the joint effect of cash inflow and trading horizon on price efficiency. We show that only markets with cash inflow and...
Persistent link: https://www.econbiz.de/10011447411
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Predictive bookmaker consensus model for the UEFA Euro 2016
Zeileis, Achim; Leitner, Christoph; Hornik, Kurt - 2016
From 10 June to 10 July 2016 the best European football teams will meet in France to determine the European Champion in the UEFA European Championship 2016 tournament (Euro 2016 for short). For the first time 24 teams compete, expanding the format from 16 teams as in the previous five Euro...
Persistent link: https://www.econbiz.de/10011475080
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Bubble or no bubble : the impact of market model on the formation of price bubbles in experimental asset markets
Kirchler, Michael; Huber, Jürgen; Stöckl, Thomas - 2009
For the past two decades a market model introduced by Smith, Suchanek, and Williams (1988, henceforth SSW) has dominated experimental research on financial markets. In SSW the fundamental value of the traded asset is determined by the expected value of a finite stream of dividend payments. This...
Persistent link: https://www.econbiz.de/10009736637
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Thar she bursts : reducing confusion reduces bubbles
Kirchler, Michael; Huber, Jürgen; Stöckl, Thomas - 2011
To explore why bubbles frequently emerge in the experimental asset market model of Smith, Suchanek and Williams (1988), we vary the fundamental value process (constant or declining) and the cash-to-asset value-ratio (constant or increasing). We observe high mispricing in treatments with a...
Persistent link: https://www.econbiz.de/10009737063
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History repeating : Spain beats Germany in the EURO 2012 final
Zeileis, Achim; Leitner, Christoph; Hornik, Kurt - 2012
.9%). Thus, one can conclude that - based on bookmakers' expectations - it seems most likely that history repeats itself and …
Persistent link: https://www.econbiz.de/10009742081
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Bubbles and financial professionals
Weitzel, Utz; Huber, Christoph; Lindner, Florian; … - 2018
The efficiency of financial markets and their potential to produce bubbles are central topics in academic and professional debates. Yet, surprisingly little is known about the contribution of financial professionals to price efficiency. To close this gap, we run 86 experimental markets with 294...
Persistent link: https://www.econbiz.de/10011807267