. This existence of disposition effect is also supported by another experiment session showing that there is a holding time …

principles of Expected Utility Theory (EUT) and of Portfolio Selection Theory (PST). The experiment is performed with individuals … providing additional risk that is not compensated by additional expected value. We find that the results of our experiment are …

We study experimental markets in which participants face incentives modeled upon those prevailing in markets for … prices are close to intrinsic value, the effect of incentives is mild. However under conditions in which markets are prone to … bubble, mispricing is greatly exacerbated by incentives. Even in experienced markets, prices climb to levels clearly …

We report a portfolio-choice experiment that enables us to estimate parametric models of ambiguity aversion at the …

We develop a new theory of delegated investment whereby managers compete in terms of composition of the portfolios they … across states. An experiment involving about one hundred participants over six weeks broadly supports the theoretical … portfolios closer to Arrow-Debreu securities (as in the theory) and who had better recent performance (an observation unrelated …

purpose, we conduct a laboratory experiment in which participants decide on the composition of an asset portfolio in different … straight-line depreciation can increase the willingness to invest as hypothesized by theory. Additionally, we are able to …