Bubbles are omnipresent in lab experiments with asset markets. Most of these experiments were conducted in environments … smaller bubbles if human traders expect algorithmic traders to be present. …

Bubbles are omnipresent in lab experiments with asset markets. But these experiments were (mostly) conducted in … clearly smaller bubbles if human traders expect algorithmic traders to be present. …

not generate the price bubbles observed in previous studies with student subjects; traders aggregate private information …

provide for new investment. This feedback effect from the financial market to the investment decision gives rise to trading … is sometimes desirable for price informativeness and investment efficiency, but speculators’ incentives push in the …