We conduct an experiment to investigate whether concerns about an auditor's independence and reputation affect individuals' investment decisions. We examine whether the disclosure of audit and non-audit fees affects participants' investment decisions. We find that investment in clients of a less...

This study investigates disclosure behavior when a manager has incentives to influence the actions of a product market competitor in a Cournot duopoly. Theoretical research suggests that under various conditions the manager has incentives to withhold some signals and disclose others. Using an...

This study reports the results of fifteen experimental asset markets designed to investigate the effects of forecasts on market prices, traders' abilities to assess asset value, and the link between the two. Across the fifteen markets, the authors investigate alternative forecast-generating...

We report the results of an experiment designed to investigate the behavior of quoted spreads in multiple dealer markets. We manipulate verbal communication (not allowed and allowed) and order preferencing (not allowed, allowed, and allowed with order flow payment) across 18 sessions. Without...

Research suggests that informational differences, including familiarity with domestic securities, underlie home equity bias. We suggest that home bias can arise more subtly. The bias may simply occur because individuals are more comfortable with domestic companies, irrespective of information or...