We experimentally investigate how price expectations are formed in a large asset market where subjects' only task is to … forecast the future price of a risky asset. The realized prices depend on these expectations. We observe small (6 participants …". We observe both stable markets and large bubbles for both small and large markets. The data analysis shows no differences …

We investigate the relationship between anchoring and the emergence of bubbles in experimental asset markets. We show … significantly reduce bubbles in laboratory asset markets. If no FV-anchor is set, bubble-crash patterns emerge. Our results indicate … that bubbles in laboratory environments are primarily sparked in the first period. If prices are initiated around the FV …