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 …

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 …

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 …

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 …

observeonly a small impact of interest policy on bubbles. However, we find a strong impacton investors’ portfolio choice decisions …

expected value of a finite stream of dividend payments. This setup implies a deterministically falling fundamental value with a … predetermined end of the life-span of the asset and extremely high dividend-payouts. We present a new market model in which we … more efficient and end-of-experiment imbalances common in SSW-markets are not observed. Our results demonstrate, that …

experiment that regularly produces valuation bubble and crash events. Global sessions involved real time trades between subjects … asset market bubbles occur in all sessions, but global markets had significantly more extreme and longer duration valuation … bubbles. Additionally, subjects at the most suboptimal times-of-day held significantly more asset shares in their portfolios …

-Fuller test reveals existence of periodically collapsing bubbles in S&P 500 data during the late 1990s. …