last few decades, as their high trading volume indicates. Given their prominence, the pricing efficiency of these markets … price with prices of options traded in financial markets. One popular approach to deriving pricing relationships is based on … that options markets are inefficient and that casts doubt on whether options markets contribute to price discovery, hedging …

This study conducts experimental asset markets to examine the effects of circuit breaker rules on market behavior when … others possess private information, causing price to move away from fundamental value. Allocative efficiencies in our markets … are high across all regimes. Circuit breakers perform no useful function in our experimental asset markets. …

This study conducts experimental asset markets to examine the effects of circuit breaker rules on market behavior when … others possess private information, causing price to move away from fundamental value. Allocative efficiencies in our markets … are high across all regimes. Circuit breakers perform no useful function in our experimental asset markets. …

This study reports the results of fifteen experimental asset markets designed to investigate the effects of forecasts … on market prices, traders' abilities to assess asset value, and the link between the two. Across the fifteen markets, the … authors investigate alternative forecast-generating processes. In some markets the process produces an unbiased estimate of …

This study reports the results of fifteen experimental asset markets designed to investigate the effects of forecasts … on market prices, traders' abilities to assess asset value, and the link between the two. Across the fifteen markets, the … authors investigate alternative forecast-generating processes. In some markets the process produces an unbiased estimate of …