Te, Bao; Hommes, Cars H.; Makarewicz, Tomasz - 2015
This experiment compares the price dynamics and bubble formation in an asset market with a price adjustment rule in … three treatments where subjects (1) submit a price forecast only, (2) choose quantity to buy/sell and (3) perform both tasks …. We find deviation of the market price from the fundamental price in all treatments, but to a larger degree in treatments …