. These bubbles do not disappear with experience. Our findings in the call market experiment stand in contrast to the …We study the role of experience in the formation of asset price bubbles. Therefore, we conduct two related experiments … literature. Our findings in the learning-to-forecast experiment are novel. Interestingly, the shape of the bubbles is different …

proposed to limit such speculative use. Here, we provide the first controlled experiment analyzing the pricing of credit …

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 …

depositors (Diamond and Dybvig, 1983). Building on their work, we conduct a laboratory experiment where we offer depositors the …

agents can learn the Nash equilibrium in the repeated game and compare the results to an experiment. We find subjects …

aversion. An accompanying laboratory experiment confirms that an exogenous increase in income risk causally leads to this …