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Thar she bursts - Reducing confusion reduces bubbles
Kirchler, Michael; Huber, Jürgen; Stöckl, Thomas - 2011
To explore why bubbles frequently emerge in the experimental asset market model of Smith, Suchanek and Williams (1988 …
Persistent link: https://www.econbiz.de/10010294824
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Humans, robots and market crashes: A laboratory study
Feldman, Todd; Friedman, Daniel - 2008
We introduce human traders into an agent based financial market simulation prone to bubbles and crashes. We find that … impact on bubbles and crashes in larger (30 trader) markets and when they are more experienced. Humans' buying and selling …
Persistent link: https://www.econbiz.de/10010288144
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Asset Bubbles without Dividends - An Experiment
Oechssler, Jörg; Schmidt, Carsten; Schnedler, Wendelin - 2009
Bubbles in asset markets have been documented in numerous experimental studies. However, all experiments in which … bubbles occur pay dividends after each trading day. In this paper we study whether bubbles can occur in markets without … may have inside information, and (2) the option to communicate with other traders. We find that bubbles can indeed occur …
Persistent link: https://www.econbiz.de/10011422145
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Theoretical notes on bubbles and the current crisis
Martin, Alberto; Ventura, Jaume - 2011
We explore a view of the crisis as a shock to investor sentiment that led to the collapse of a bubble or pyramid scheme in financial markets. We embed this view in a standard model of the financial accelerator and explore its empirical and policy implications. In particular, we show how the...
Persistent link: https://www.econbiz.de/10011605394
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Lessons from a small country in a financial crisis or Dr. Minsky and Mr. Ponzi in Iceland
Magnusson, Gylfi - 2010
Persistent link: https://www.econbiz.de/10014306488
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Information and Strategic Voting
Tyszler, Marcelo; Schram, Arthur - 2011
We theoretically and experimentally study voter behavior in a setting characterized by plurality rule and mandatory voting, where voters choose from three options. We are interested in the occurrence of strategic voting in an environment where Condorcet cycles may occur. In particular, we focus...
Persistent link: https://www.econbiz.de/10010325876
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Does volatility matter? Expectations of price return and variability in an asset pricing experiment
Bottazzi, Giulio; Devetag, Giovanna; Pancotto, Francesca - 2009
We present results of an experiment on expectation formation in an asset market. Participants to our experiment must provide forecasts of the stock future return to computerized utility-maximizing investors, and are rewarded according to how well their forecasts perform in the market. In the...
Persistent link: https://www.econbiz.de/10010328471
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The ultimatum game and expected utility maximization: In view of attachment theory
Almakias, Shaul; Weiss, Avi - 2009
In this paper we import a mainstream psycholgical theory, known as attachment theory, into economics and show the implications of this theory for economic behavior by individuals in the ultimatum bargaining game. Attachment theory examines the psychological tendency to seek proximity to another...
Persistent link: https://www.econbiz.de/10010336040
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Coordination and critical mass in a network market: An experimental investigation
Ruffle, Bradley J.; Weiss, Avi; Etziony, Amir - 2010
A network market is a market in which the benefit each consumer derives from a good is an increasing function of the number of consumers who own the same or similar goods. A major obstacle that plagues the introduction of a network good is the ability to reach critical mass, namely, the minimum...
Persistent link: https://www.econbiz.de/10010336053
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A note on the design of experiments involving public goods
Graves, Philip E. - 2010
Concern about potential free riding in the provision of public goods has a long history. More recently, experimental economists have turned their attention to the conditions under which free riding would be expected to occur. A model of free riding is provided here which demonstrates that...
Persistent link: https://www.econbiz.de/10010274945