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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), we vary the fundamental value process (constant or declining) and the cash-to-asset value-ratio (constant or increasing). We observe high mispricing in treatments with a...
Persistent link: https://www.econbiz.de/10010294824
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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
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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 human traders earn lower profits overall than do the simulated agents (robots) but earn higher profits in the most crash-intensive periods. Inexperienced human traders tend to...
Persistent link: https://www.econbiz.de/10010288144
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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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Price efficiency and trading behavior in limit order markets with competing insiders
Stöckl, Thomas - 2013
We study price efficiency and trading behavior in laboratory limit order markets with asymmetrically informed traders. Markets differ in the number of insiders present and in the subset of traders who receive information about the number of insiders present. We observe that price efficiency (i)...
Persistent link: https://www.econbiz.de/10010397152
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Team Governance: Empowerment or Hierarchical Control
Friebel, Guido; Schnedler, Wendelin - 2007
We investigate a team setting in which workers have different degrees of commitment to the outcome of their work. We show that if there are complementarities in production and if the team manager has some information about team members, interventions that the manager undertakes in order to...
Persistent link: https://www.econbiz.de/10011422162
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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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Self-serving dictators
Asheim, Geir B.; Helland, Leif; Hovi, Jon; Hoyland, Bjorn - 2008
We provide experimental evidence of self-serving fairness ideals in a dictator game design that includes treatments where funds can be transferred in two ways to the one player and in one way to the other. Two methods for transferring funds to the recipient produce the same results as the...
Persistent link: https://www.econbiz.de/10010285576
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Economic cooperation In Turkish culture: Public goods games and lonely elephants
Beranek, Benjamin; Duman, Alper - 2010
While the public good experiment has been used to analyze cooperation among various groups in Western Europe and North America, it has not been extensively used in other contexts such as Turkey. This project seeks to rectify that and explore how Turkish university students informally self...
Persistent link: https://www.econbiz.de/10011807205
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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 … fear of abandonment and of not being loved. Utilizing attachment theory, we evaluate the connection between attachment …
Persistent link: https://www.econbiz.de/10010336040