Heemeijer, Peter; Hommes, Cars; Sonnemans, Joep; … - In: Journal of Economic Dynamics and Control 33 (2009) 5, pp. 1052-1072
The evolution of many economic variables is affected by expectations that economic agents have with respect to the future development of these variables. We show, by means of laboratory experiments, that market behavior depends to a large extent on whether realized market prices respond...