We report the results of an experiment designed to study the determinants of asset price movement and consumption smoothing behavior across asset markets populated with varying proportion of traders with and without having induced motive to smooth consumption. Although the asset is over-priced...

We design an experiment to study the implications of information networks for the incentive to acquire costly information, market liquidity, investors' earnings and asset price characteristics in a financial market. Social communication crowds out information production as a result of agent's...

We design an experiment to study the effects of dark trading on incentives to acquire costly information, price efficiency, market liquidity, and investors' earnings in a financial market. When the information precision is high, adding a dark pool alongside a lit exchange encourages information...

We test the seminal Grossman and Hart (1988) model on the optimality of the one-share-one-vote share structure against the dual-class share structure in a laboratory experiment. Our result shows qualitative support to their theoretical prediction asserting that the more efficient contender of...

We test the seminal Grossman and Hart (1988) model on the optimality of the one-share-one-vote share structure against the dual-class share structure in a laboratory experiment. Our result shows qualitative support to their theoretical prediction asserting that the more efficient contender of...

We compare the incentive effect of two-grade reporting formats, namely the full and the garbled reporting. As a backdrop, we consider students whose performance in an examination is observed by others. The reporting format is either pass or fail grade (garbled) or a score between 0 and 100...

We report results from experiments designed to investigate the prevalence of turn-taking in three-person finitely repeated threshold public good games without communication. Individuals can each make a discrete contribution. If the number of contributors is at least equal to the threshold, a...