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Coordination in a Repeated Stochastic Game with Imperfect Monitoring

Gerber, Anke; Hens, Thorsten; Vogt, Bodo - Institut für Volkswirtschaftslehre, …

We consider a repeated stochastic coordination game with imperfect public monitoring. In the game any pattern of coordinated play is a perfect Bayesian Nash equilibrium. Moreover, standard equilibrium selection arguments either have no bite or they select an equilibrium that is not observed in...

Persistent link: https://www.econbiz.de/10005627914

Prices and Portfolio Choices in Financial Markets: Theory, Econometrics, Experiments

Bossaerts, Peter; Plott, Charles; Zame, William R. - 2003

Many tests of asset pricing models address only the pricing predictions — but these pricing predictions rest on portfolio choice predictions which seem obviously wrong. This paper suggests a new approach to asset pricing and portfolio choices, based on unobserved heterogeneity. This approach...

Persistent link: https://www.econbiz.de/10005162941

The Effect of Reliability, Content and Timing of Public Announcements on Asset Trading Behavior

Corgnet, Brice; Kujal, Praveen; Porter, David - Economic Science Institute (ESI), Argyros School of … - 2011

Financial markets are overwhelmed by daily announcements. We use experimental asset markets to assess the impact of releasing public messages with different levels of reliability on asset prices. Subjects receive qualitative announcements in predetermined trading periods that are either preset...

Persistent link: https://www.econbiz.de/10008855699

Reaction to public information in asset markets: does ambiguity matter?

Corgnet, Brice; Kujal, Praveen; Porter, David - Departamento de Economía, Universidad Carlos III de Madrid - 2010

We report experiments that examine trader reaction to ambiguity when dividend information is revealed sequentially. We find that experienced traders are better at internalizing ambiguity than inexperienced subjects. No significant differences are observed in the ambiguity versus control...

Persistent link: https://www.econbiz.de/10008682829

The impact of ethical feedback on moral emotions and managerial behavior: A labor market experiment

Gaudeul, Alexia; Gangl, Katharina; Kirchkamp, Oliver; … - 2024

We investigate the influence of ethical feedback on decision-makers' behavior, focusing on the role of emotions in … mediating this relationship. We examine how emotions generated by ethical feedback impact subsequent decisions in a laboratory … mediated by emotions. This research is pioneering in linking emotions to ethical decisions in a controlled environment. The …

Persistent link: https://www.econbiz.de/10014471665

The impact of ethical feedback on moral emotions and managerial behavior : a labor market experiment

Gaudeul, Alexia; Gangl, Katharina; Kirchkamp, Oliver; … - 2024

Persistent link: https://www.econbiz.de/10014467617

Forecasting Skills in Experimental Markets : Illusion or Reality?

Corgnet, Brice - 2020

Using experimental asset markets, we study the situation of a financial analyst who is trying to infer the fundamental value of an asset by observing the market's history. We find that such capacity requires both standard cognitive skills (IQ) as well as social and emotional skills. However,...

Persistent link: https://www.econbiz.de/10012828890

Mental Capabilities, Heterogeneous Trading Patterns and Performance in an Experimental Asset Market

Hefti, Andreas - 2018

We develop and test a framework of mental information representation in an asset market setting. The model predicts heterogeneous trading behavior as a consequence of two distinct mental capabilities: analytical skills and mentalizing, where the former involves quantitative, objective aspects of...

Persistent link: https://www.econbiz.de/10012935621

Risk-Taking and Tail Events Across Trading Institutions

Working Paper Series, GATE; Corgnet, Brice; Cornand, Camille - 2021

that markets tend to exacerbate the reaction of investors to tail losses and we attribute this effect to emotions …

Persistent link: https://www.econbiz.de/10013211287

Overconfidence and Market Performance

Wang, Zhaoqi; Friedman, Daniel; Bowen, Thomas - 2023

How does trader overconfidence (judgemental or self-enhancement) affect their performance in asset markets, and overall market quality? Conversely, how does market participation affect traders’ overconfidence? To address such questions, we build a laboratory asset market in which human...

Persistent link: https://www.econbiz.de/10014258297