experiment in which we vary the length of the horizon and whether the end time is definite or indefinite. We find recurring … bubbles and similar price dynamics in all treatments (with moderately lower prices in the treatments with a long horizon) …

experiment, in which we vary the length of the horizon and whether the end time is definite or indefinite. We find very similar … price dynamics with recurring bubbles in all treatments …

". We observe both stable markets and large bubbles for both small and large markets. The data analysis shows no differences … successfully drives prices back towards the fundamental, but we observe very large bubbles in which the news apparently has no …

. These bubbles do not disappear with experience. Our findings in the call market experiment stand in contrast to the …We study the role of experience in the formation of asset price bubbles. Therefore, we conduct two related experiments … literature. Our findings in the learning-to-forecast experiment are novel. Interestingly, the shape of the bubbles is different …

proposed to limit such speculative use. Here, we provide the first controlled experiment analyzing the pricing of credit …

traders and cash triggers bubbles ("inflow-effect"). (ii) In treatments with trader and cash inflow only in the first half of … bubbles in almost all of the 24 markets with trader inflow. The analysis of traders' beliefs reveals that (iii) despite … motive only among the optimists in treatments where we observe bubbles. …

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 …