We investigate experimentally how the share of experienced traders in doubleauction asset markets affects trading, in particular the occurrence of bubble-crash pricing patterns. In each session, six subjects trade in three successive market rounds and gain experience. In a fourth round,...

This research investigates the specific influence of the emotion of surprise on customer transaction-specific satisfaction. Four empirical studies-two field studies (a diary study and a cross section survey) and two experiments-were conducted. The results show that surprise positively...

This paper reports a new and significant experimental demonstration that market participants adjust their bids towards the price observed in previous market periods when – by design – individuals’ values should not be affiliated with the market price. This demonstration implies that market...

Dejong et.al. (1989) and Avila & Ronen (1999) conduct experimental tests of various transfer pricing mechanisms. The resulting quantity data is transformed to efficiency measures which the authors analyse primarily through t-tests and analyses of variance. The problem in both experiments is that...