Dubin, Jeffrey A.; Kalsow, Gretchen A.; Udell, Michael A. - California Institute of Technology, Division of the … - 1998
We report on experiments of simple, repeated asset markets in two risky securities and one risk-free security, set up to test the Capital Asset Pricing Model (CAPM), which embeds the two most essential principles of modern asset pricing theory, namely, (i) financial markets equilibrate, (ii) in...