Deviations from equilibrium bids in auctions can be related to inconsistent expectations with correct best replies (see … Eyster and Rabin, 2005; Crawford and Iriberri, 2007) or correct expectations but small (perhaps quantal-response) mistakes in … and study expectations together with best replies. We extensively test the internal validity of this setup. We find that …

effect of algorithmic traders we use a design where we manipulate only the expectations of human traders. We find clearly …

effect algorithmic traders have we use a clean design where we can manipulate only the expectations of human traders. We find …

effect of algorithmic traders we use a design where we manipulate only the expectations of human traders. We find clearly …

effect algorithmic traders have we use a clean design where we can manipulate only the expectations of human traders. We find …

correct expectations. (2) Bidders do not play a best reply against their expectations. We present a novel experimental setup … which allows to observe bids and expectations separately. We extensively test the internal validity of this setup. We find … that off equilibrium expectations explain, if at all, underbidding. Off equilibrium bids do not seem to be due to wrong …

Deviations from equilibrium bids in auctions can be related to inconsistent expectations with correct best replies (see … Eyster and Rabin, 2005; Crawford and Iriberri, 2007) or correct expectations but small (perhaps quantal-response) mistakes in … and study expectations together with best replies. We extensively test the internal validity of this setup. We ?nd that …

We generate observable expectations about fiscal variables through laboratory experiments using real world data from … several European countries as stimuli. We compare a VAR model of expectations for data which is presented in a fiscal frame …. Agents' expectations are found neither to be consistent with rational nor with purely adaptive expectations but, instead …