reversal phase in over-reaction patterns is simply a sluggish adjustment, too. We propose a price inertia theory of under- and …

theory of under- and over-reaction: when information arrives sequentially over time, the market is characterized by a slow …

-dependent fundamental values (BFVs) to all traders. We find that bubbles are a rare phenomenon in all of our treatments. Markets with …

as well as perturbed ones (bubbles and kraches). …

Bubbles are omnipresent in lab experiments with asset markets. But these experiments were (mostly) conducted in … experiment to measure human trading behaviour changes if these humans expect algorithmic traders. To disentangle the direct … clearly smaller bubbles if human traders expect algorithmic traders to be present. …

market. We find that the existence of bonus contracts does not increase the likelihood of bubbles but it affects their … severity, depending on the time horizon of bonuses. Markets with long-term bonus contracts experience lower price deviations …

Bubbles in asset markets have been documented in numerous experiments. Most experiments in which bubbles occur feature … information and communication among traders. We find that bubbles and mirages can occur if these additional ingredients are … present. In particular, the mere possibility that some traders are better informed than others can create bubbles …

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 …