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Informational asymmetries in laboratory asset markets with state-dependent fundamentals
Keser, Claudia; Markstädter, Andreas - 2014
We investigate the formation of market prices in a new experimental setting involving multi-period call-auction asset markets with state-dependent fundamentals. We are particularly interested in two informational aspects: (1) the role of traders who are informed about the true state and/or (2)...
Persistent link: https://www.econbiz.de/10010353591
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Informational asymmetries in laboratory asset markets with state-dependent fundamentals
Keser, Claudia; Markstädter, Andreas - 2014 - This version: September 25, 2014
We investigate the formation of market prices in a new experimental setting involving multi-period call-auction asset markets with state-dependent fundamentals. We are particularly interested in two informational aspects: (1) the role of traders who are informed about the true state and/or (2)...
Persistent link: https://www.econbiz.de/10010429127
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Experimental Asset Markets : Behaviour and Bubbles
Powell, Owen - 2015
This paper reviews new research on experimental asset markets, markets in which the value of the traded asset is homogeneous across all agents. Such markets have been shown to be prone to substantial mispricing, usually in the form of a bubble-and-crash pattern. This calls into question the...
Persistent link: https://www.econbiz.de/10013026766
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Bubbles, crashes and information contagion in large-group asset market experiments
Hommes, Cars H.; Kopányi-Peuker, Anita; Sonnemans, Joep - 2019
We experimentally investigate how price expectations are formed in a large asset market where subjects' only task is to forecast the future price of a risky asset. The realized prices depend on these expectations. We observe small (6 participants) and large markets (about 100 participants). In...
Persistent link: https://www.econbiz.de/10011979625
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Informational asymmetries in laboratory asset markets with state-dependent fundamentals : conference paper
Keser, Claudia; Markstädter, Andreas - 2014
We investigate the formation of market prices in a new experimental setting involving multi-period asset markets with state-dependent fundamentals. We are particularly interested in two informational aspects: (1) the role of traders who are informed about the true state and (2) the provision of...
Persistent link: https://www.econbiz.de/10010483895
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Asset Market Experiments with Diverse Information
Schmidt, Dominik; Stöckl, Thomas - 2021
On financial markets, information is a highly demanded resource and processing it to (potentially) generate excess returns drives the activities of many market participants. Not surprisingly, this high relevance of information in markets culminates in a high research interest focusing on how...
Persistent link: https://www.econbiz.de/10013323147
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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/10009744178
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The role of the end time in experimental asset markets
Kopányi-Peuker, Anita; Weber, Matthias - 2021
experiment in which we vary the length of the horizon and whether the end time is definite or indefinite. We find recurring …
Persistent link: https://www.econbiz.de/10012609733
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The role of the end time in experimental asset markets
Kopányi-Peuker, Anita; Weber, Matthias - 2022
experiment, in which we vary the length of the horizon and whether the end time is definite or indefinite. We find very similar …
Persistent link: https://www.econbiz.de/10013192083
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Experience does not eliminate bubbles : experimental evidence
Kopányi-Peuker, Anita; Weber, Matthias - 2018
. One is a call market experiment in which participants trade assets with each other. The other is a learning …-to-forecast experiment in which participants only forecast future prices, while the trade, which is based on these forecasts, is computerized …. Each experiment comprises three treatments that vary the amount of information about the fundamental value that …
Persistent link: https://www.econbiz.de/10011932581