The Paper reports a basic Experiment on the option pricing approach. Each trader with an increasing utility for money … values the option with his arbitrage free price, which is independent of the probability of the stock movement. The … experimental data show that the traiders learn to exploit more arbitrage as they gain experience, however, they value the option by …

We compare the behaviour of students and professional traders from an influential German bank in an experiment … involving financial options. The arbitrage free option price is independent of the probability distribution of the underlying … exploit more arbitrage as they gain experience. The professional traders exhibit a less probability sensitive valuation, but …

This paper reports an option pricing experiment on the binomial model, which has been conducted with professional … traders of financial assets. The experimental results are compared to a corresponding experiment with students. The data show … that professional traders achieve lower arbitrage exploitation as well as lower expected payoffs, as a consequence of …

economists to a rigorous study of expectation formation in the laboratory. In this work we describe a laboratory experiment on …

We study the effects of the investment horizon on asset price volatility using a Learning to Forecast experiment. We … fundamental values for the duration of the experiment …

Livingston survey; and those made by students in a laboratory experiment. One key result is that neither group fares particularly … well, though participants in the lab experiment clearly outperformed the professionals. …