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 …

It is often believed that markets with more experienced investors exhibit fewer bubbles. The same is believed of …. In contrast, bubbles may rise faster in markets with more experienced investors. This is in line with a model in which …

experiment. We find that individual trading gains and patterns are consistent with our theoretical predictions. Our results … of asset bubbles. Finally, our conceptual framework and the empirical screening method could be applied to explain …

market. We find that the existence of bonus contracts does not increase the likelihood of bubbles but it affects their … severity, depending on the time horizon of bonuses. Markets with long-term bonus contracts experience lower price deviations …

We study the effect of ambiguity on the formation of bubbles and on the occurrence of crashes in experimental asset … is risky although bubbles form in both the ambiguous and the risky environments. Additionally, bubbles do not crash in …

Asset market bubbles and crashes are a major source of economic instability and inefficiency. Sometimes ascribed to …

Asset market bubbles and crashes are a major source of economic instability and inefficiency. Sometimes ascribed to …