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We study indefinitely lived assets in experimental markets and find that the traded prices of these assets are, on average, about 40% of the risk-neutral fundamental value. Neither uncertainty about the value of total dividend payments nor horizon uncertainty about the duration of trade can...
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We model the introduction of a new payment method, e.g., e-money, that competes with an existing payment method, e.g., cash. The new payment method involves relatively lower per-transaction costs for both buyers and sellers, but sellers must pay a fixed fee to accept the new payment method. As a...
Persistent link: https://www.econbiz.de/10011685498
We develop a framework for studying the introduction of a new payment method in a controlled laboratory environment, where consumers (buyers) and merchants (sellers) can learn to coordinate their adoption decisions over time. The underlying game exhibits network adoption effects as emphasized by...
Persistent link: https://www.econbiz.de/10013308425
We study indefinitely-lived assets in experimental markets and find that the traded prices of these assets are on average about 40% of the risk neutral fundamental value. Neither uncertainty about the value of total dividend payments nor horizon uncertainty about the duration of trade can...
Persistent link: https://www.econbiz.de/10012848608
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We study indefinitely-lived assets in experimental markets and find that the traded prices ofthese assets are on average about 40% of the risk neutral fundamental value. Neither uncertaintyabout the value of total dividend payments nor horizon uncertainty about the duration of tradecan account...
Persistent link: https://www.econbiz.de/10013306258
We study indefinitely lived assets in experimental markets and find that the traded prices of these assets are, on average, about 40% of the risk-neutral fundamental value. Neither uncertainty about the value of total dividend payments nor horizon uncertainty about the duration of trade can...
Persistent link: https://www.econbiz.de/10014253810