Asset market experiments

2020

Anufriev, Chernulich, and Tuinstra, 'Asset Price Volatility and Investment Horizons: An Experimental Investigation'.

Aragón and Roulund, 'Confidence and decision-making in experimental asset markets', Journal of Economic Behavior and Organization.

Bao, Halim, Noussair, and Riyanto, 'Managerial incentives and stock price dynamics: an experimental approach', Experimental Economics.

Bieberstein, Crede, Dietrich, Gehrlein, Neumann and Stürmer, 'oTree: Implementing websockets to allow for real-time interactions – A continuous double auction market as first application'.

Bulutay, Cornand and Zylbersztejn, 'Learning to deal with repeated shocks under strategic complementarity: An experiment.'

Corgnet, Cornand and Hanaki, 'Tail events, emotions and risk taking'.

Deck, Hao, Xu and Yeager, 'Social Comparison and Wealth Inequality in a Leveraged Asset Market', Journal of Behavioral Finance.

Della Rossa, Giannini, DeLellis, 'Herding or wisdom of the crowd? Controlling efficiency in a partially rational financial market', PLOS ONE.

Füllbrunn, Neugebauer, and Nichlisch, 'Underpricing of initial public offerings in experimental asset markets', Experimental Economics.

GalÌ, Giustiy and Noussair, 'Monetary Policy and Asset Price Bubbles: A Laboratory Experiment'.

Hirota, Huber, Stöckl and Sunder, 'Speculation, Money Supply and Price Indeterminacy in Financial Markets: An Experimental Study'.

Huber, Rott and Giusti, 'Housing Consumption and Bubble Size'.

Lu, Bao and Yu, 'Gender and Bubbles in Experimental Markets with Positive and Negative Expectation Feedback', Computational Economics.

Miklánek and Zajíček, 'Personal Traits and Trading in an Experimental Asset Market'.

Sherstyuk, Phankitnirundorn and Roberts, 'Randomized Double Auctions: Gains from Trade, Trader Roles, and Price Discovery'.

Sornette, Andraszewicz, Wu, Murphy, Rindler and Sanadgol, 'Overpricing persistence in experimental asset markets with intrinsic uncertainty'.

Tucker and Xu, 'Nonspeculative Bubbles Revisited: Speculation Does Matter'.

2019

Ahrens, Bosch-Rosa and Rouland, 'Asset Price Dynamics and Endogenous Trader Overconfidence'.

Aldrach and Vargas, 'Experiments in high-frequency trading: comparing two market institutions', Experimental Economics.

Andraszewicz, Wu, and Sornette, 'Behavioural effects and market dynamics in field and laboratory experimental asset markets'.

Angerer and Szymczakab, 'The impact of endogenous and exogenous cash inflows in experimental asset markets', Journal of Economic Behavior and Organization.

Bao and Hommes, 'When Speculators Meet Suppliers: Positive versus Negative Feedback in Experimental Housing Markets', Journal of Economic Dynamics and Control.

Bao and Leibbrandt, 'Thar she resurges: The case of assets that lack positive fundamental value'.

Bouattour and Martinez, 'Efficient market hypothesis: an experimental study with uncertainty and asymmetric information', Finance Contrôle Stratégie.

Bousselmi, Sentis, and Willinger, 'How do markets react to (un)expected fundamental value shocks? An experimental analysis', Journal of Behavioral and Experimental Finance.

Carbone, Hey and Neugebauer, 'An Experimental Comparison of Two Exchange Economies: Long-Lived Asset versus Short-Lived Asset'.

Chmura, Bai and Bauder, 'The Impact of an Insider and Short-selling on Bubble Formation in Experimental Financial Market', Journal of Financial Markets, Institutuions and Money.

Cueva, Iturbe-Ormaetxea, Ponti, and Tomás, 'Boys will still be boys: Gender differences in trading activity are not due to differences in (over) confidence', Journal of Economic Behavior & Organization.

Duchêne, Guerci, Hanaki and Noussair, 'The effect of short selling and borrowing on market prices and traders' behavior', Journal of Economic Dynamics and Control.

Duffy, Jiang and Xie, 'Experimental Asset Markets with An Indefinite Horizon'.

Evans, Hommes, McGough and Salle, 'Are Long-Horizon Expectations (De-)Stabilizing? Theory and Experiments'.

Halim and Riyanto, 'Asset Markets with Insider Trading Disclosure Rule and Reselling Constraint: An Experimental Analysis', Journal of Economic Dynamics and Control.

Hanaki, 'Cognitive Ability and Observed Behavior in Laboratory Experiments: Implications for Macroeconomic Theory'.

Hanaki, Hommes, Kopányi and Tuinstra, 'The Effect of Framing on the Emergence of Bubbles and Crashes in a Learning to Forecast Experiment'.

Hennequin, 'Expectations and bubbles in asset market experiments'.

Hommes, Kopányi-Peuker and Sonnemans, 'Bubbles, crashes and information contagion in large-group asset market experiments'.

Huber, Bindra and Kleinlercher, 'Design-features of bubble-prone experimental asset markets with a constant FV', Journal of the Economic Science Association.

Jin, Chen, Zhou, and Yang, 'Stimulating the Dorsolateral Prefrontal Cortex Decreases the Asset Bubble: A tDCS Study', Frontiers in Psychology.

Kopányi, Rabanal, Rud and Tuinstra, 'Can competition between forecasters stabilize asset prices in learning to forecast experiments?', Journal of Economic Dynamics and Control.

Marquardt, Noussair and Weber, 'Rational Expectations in an Experimental Asset Market with Shocks to Market Trends', European Economic Review.

Nax, Nunez-Duran, and Pradelski, 'Feedback effects in the experimental double auction with private information'.

Noussair and Popescu, 'Contagion and return predictability in asset markets: An experiment with two Lucas trees'.

Shestakova, Powell and Gladyrev, 'Bubbles, experience and success', Journal of Behavioral & Experimental Finance.

Sornette, Andraszewicz, Wu, Murphy, Rindler and Sanagol, 'Overpricing persistence in experimental asset markets with intrinsic uncertainty'.

Strauch, 'Bubbles and crashes: A laboratory experiment', Journal of Economic Asymmetries.

Weber, Duffy and Schram, 'Credit Default Swap Regulation in Experimental Bond Markets'.

2018

Asparouhova, Bossaerts, Rotaru, Wang, Yadav and Yang, 'Humans in Charge of Trading Robots: The First Experiment'.

Bao, Halm, Noussair and Riyanto, 'CEO Incentives and Stock Price Dynamics: An Experimental Approach'.

Bao, Kalayci, Leibbrandt, and Oyarzun, 'Regulating Bubbles Away? Experiment-Based Evidence of Price Limits and Trading Restrictions in Asset Markets with Deterministic and Stochastic Fundamental Values'.

Bossaerts, Shachat and Kuangli, 'Arbitrage Opportunities: Anatomy and Remediation'.

Butler and Cheung, 'Mind, Body, Bubble! Psychological and Biophysical Dimensions of Behavior in Experimental Asset Markets'.

Hanaki, Akiyama, and Ishikawa, 'Effects of different ways of incentivizing price forecasts on market dynamics and individual decisions in asset market experiments', Journal of Economic Dynamics and Control.

Hirota, Huber, Stöckl and Huber, 'Speculation and Price Indeterminacy in Financial Markets: An Experimental Study'.

Hirota, Kusakawa, Saijo and Tanigawa, 'Keynes's Beauty Contest in Stock Markets: An Experimental Study'.

Ilomäki and Laurila, 'Animal spirits in financial markets: Experimental evidence', Journal of Behavioral and Experimental Finance.

Janssen, Füllbrunn and Weitzel, 'Individual speculative behavior and overpricing in experimental asset markets', Experimental Economics.

Leal and Hanaki, 'Algorithmic Trading, What if It is Just an Illusion? Evidence from Experimental Financial Markets'.

Neugebauer and Selten, 'Experimental stock market dynamics: Excess bids, directional learning, and adaptive style-investing in a call-auction with multiple multi-period lived assets', Journal of Economic Behavior & Organization.

Page and Siemroth, 'How Much Information is Incorporated in Financial Asset Prices? Experimental Evidence'.

Roger, Bousselmi, Roger and Willinger, 'The effect of price magnitude on analysts’ forecasts: evidence from the lab'.

Wang, Houser and Xu, 'Culture, gender and asset prices: Experimental evidence from the U.S. and China', Journal of Economic Behavior & Organization.

Weitzel, Huber, Lindner, Huber, Rose and Kirchler, 'Bubbles and financial professionals'.

Xu, 'Essays in Networks of Finance and Experimental Finance: A Behavioral View (Chapter 3)'.

Zhang, 'Influence of individual rationality on continuous double auction markets with networked traders', Physica A.

2016

Ackert, Jiang, and Qi, 'Experiments on Electronic Double Auctions and Abnormal Trades', Southern Economic Journal.

Andrade, Odean and Lin, ‘Bubbling with Excitement: An Experiment’, Review of Finance.

Carle, Lahav, Neugebauer, and Noussair, 'Heterogeneity of beliefs and trade in experimental asset markets'.

Collins and Brink, 'Fundamentals, momentum, and bubbles in experimental asset markets', Review of Behavioral Finance.

Fenig, Mileva and Petersen, 'Leave the bubble alone!: Deflating asset price bubbles in an experimental macroeconomy'.

Giusti, Jiang and Xu, 'Interest on cash, fundamental value process and bubble formation: An experimental study'.

Gozluklu, 'Pre-trade transparency and informed trading: Experimental evidence on undisclosed orders', Journal of Financial Markets.

Halim, Riyanto and Roy, 'Price Dynamics and Consumption Smoothing in Experimental Asset Markets'.

Hanaki, Akiyama and Ishikawa, 'A Methodological Note on Eliciting Price Forecasts in Asset Market Experiments'.

Hefti, Heinke and Schneider, 'Mental Capabilities, Trading Styles, and Asset Market Bubbles: Theory and Experiment'.

Kujal and Powell, 'Bubbles in Experimental Asset Markets'.

Lunuwat, 'Learning from Prices in Models of Higher Order Beliefs'.

Morone and Nuzzo, 'Asset Markets in the Lab: a literature review'.

Nadler, Jiao, Alexander, Johnson and Zak, 'The Bull of Wall Street: Experimental Analysis of Testosterone and Asset Trading'.

Noussair, Tucker and Xu, 'Futures Markets, Cognitive Ability, and Mispricing in Experimental Asset Markets', Journal of Economic Behavior & Organization.

Plott and Pogorelskiy, 'Call Market Experiments: Efficiency and Price Discovery Through Multiple Calls and Emergent Newton Adjustments'.

Powell, 'Numeraire independence and the measurement of mispricing in experimental asset markets', Journal of Behavioral and Experimental Finance.

Powell and Shestakova, 'Experimental asset markets: A survey of recent developments', Journal of Behavioral and Experimental Finance.

Weber, Duffy and Schram, 'An Experimental Study of Bond Market Pricing'.

Yamaji, Gotoh, and Yamakawa, 'Additional Information Increases Uncertainty in the Securities Market: Using both Laboratory and fMRI Experiments', Computational Economics.

Yang and Zhu, 'Ambiguity vs risk: An experimental study of overconfidence, gender and trading activity', Journal of Behavioral and Experimental Finance.

2015

Afik and Lahav, 'Thinking near and far: Modeling the formation of traders' beliefs in asset markets using experimental data', Journal of Behavioral and Experimental Economics.

Baghestanian, Gortner and Massenot, 'Compensation schemes, liquidity provision, and asset prices: An experimental analysis'.

Baghestanian, Gortner and van der Weele, 'Peer Effects and Risk Sharing in Experimental Asset Markets'.

Baghestanian, Lugovskyy and Puzzello, ‘Traders’ heterogeneity and bubble-crash patterns in experimental asset markets’, Journal of Economic Behavior & Organization .

Baghestanian and Walker, ‘Anchoring in Experimental Asset Markets’, Journal of Economic Behavior & Organization.

Bao, Hommes and Makarewicz, 'Bubble Formation and (In)Efficient Markets in Learning-to-Forecast and -optimise Experiments '

Bosch-Rosa, Meissner, and Bosch-Domenech, 'Cognitive Bubbles'.

Breaban and Noussair, 'Fundamental value trajectories and trader characteristics in an asset market experiment', Journal of Behavioral and Experimental Finance.

Cason and Samek, 'Learning through passive participation in asset market bubbles', Journal of the Economic Science Association.

Charness and Neugebauer, 'A test of the Modigliani-Miller invariance theorem and arbitrage in experimental asset markets'.

Cueva and Rustichini, 'Is financial instability male-driven? Gender and cognitive skills in experimental asset markets', Journal of Economic Behavior & Organization.

Cueva, Roberts, Spencer, Rani, Tempest, Tobler, Herbert and Rustichini, 'Cortisol and testosterone increase financial risk taking and may destabilize markets', Nature.

Eckel and Füllbrunn, 'Thar 'She' Blows? Gender, Competition, and Bubbles in Experimental Asset Markets', American Economic Review.

Farjam and Kirchkamp, 'Bubbles in hybrid markets: How expectations about algorithmic trading affect human trading'.

Fujii, Goto, Hattori, Ishikawa, and Tsuruzono, 'Heterogeneous Information in Experimental Asset Markets'.

Gjerstad, Porter, Smith, and Winn, 'Retrading, production, and asset market performance', Proceedings of the National Academy of Sciences.

Ghosh, Radhakrishnan, Srinidhi, and Su, 'Recognition of Future News in Earnings and Price Bubbles in Experimental Asset Markets', Journal of Accounting, Auditing and Finance.

Hanaki, Akiyama, Funaki and Ishikawa, 'Diversity in Cognitive Ability Enlarges Mispricing'.

Huber, Kirchler and Stöckl, 'The influence of investment experience on market prices: laboratory evidence', Experimental Economics.

Janssen, Weitzel and Füllbrunn, 'Speculative Bubbles - An Introduction and Application of the Speculation Elicitation Task (SET)'.

Kirchler, Bonn, Hüber and Razen, 'The “Inflow-Effect” – Trader Inflow and Price Efficiency', European Economic Review.

Kose, ‘Price Convergence and Fundamentals in Asset Markets with Bankruptcy Risk: An Experiment’, International Journal of Behavioural Accounting and Finance.

Morone and Nuzzo, 'Market Efficiency, Trading Institutions and Information Mirages: evidence from an experimental asset market'.

Page and Siemroth, 'An Experimental Analysis of Information Acquisition in Prediction Markets'.

Palan, 'GIMS — Software for asset market experiments', Journal of Behavioral and Experimental Finance.

Paul, Henker and Owen, 'The Aggregate Impacts of Tournament Incentives in Experimental Asset Markets'.

Paul, Henker and Owen, ‘House Money Effects in Experimental Asset Markets’, Journal of Behavioral and Experimental Finance.

Powell and Shestakova, 'Experimental Asset Markets: Behaviour and Bubbles'.

2014

Ackert, Jiang and Qi, 'Liquidity Shocks in Experimental Asset Markets'.

Akiyama, Hanaki and Ishikawa, ‘How Do Experienced Traders Respond to Inflows of Inexperienced Traders? An Experimental Analysis’, Journal of Economic Dynamics and Control.

Alevy and Price, 'Advice in the Marketplace: A Laboratory Study'.

Baghestanian, 'Momentum, Noise Trader Risk, Experience and Experimental Asset Price Bubbles'.

Baghestanian, Lugovskyy and Puzzello, ‘Traders’ Heterogeneity and Bubble-Crash Patterns in Experimental Asset Markets’.

Baghestanian, Lugovskyy, Puzzello and Tucker, 'Trading Institutions in Experimental Asset Markets: Theory and Evidence'.

Cheung and Coleman, 'Relative Performance Incentives and Price Bubbles in Experimental Asset Markets', Southern Economic Journal.

Cheung, Hedegaard and Palan, ‘To See Is to Believe: Common Expectations in Experimental Asset Markets’, European Economic Review.

Corgnet, Hernán, Kujal and Porter, ‘The Effect of Earned vs. House Money on Price Bubble Formation in Experimental Asset Markets’. Review of Finance.

Deck, Porter and Smith, 'Double Bubbles in Assets Markets with Multiple Generations', Journal of Behavioral Finance.

Fellner-Röhling and Krügel, 'Judgemental overconfidence and trading activity', Journal of Economic Behavior & Organization.

Fellner and Theissen, 'Short Sale Constraints, Divergence of Opinion and Asset Prices: Evidence from the Laboratory', Journal of Economic Behavior & Organization.

Füllbrunn, Neugebauer, and Nichlisch, 'Underpricing of initial public offerings in experimental asset markets'.

Gladyrev, Powell and Shestakova, 'The Effect of Financial Selection in Experimental Asset Markets'.

Haruvy and Füllbrunn, 'The Takeover Game', Journal of Behavioral and Experimental Finance.

Haruvy, Noussair and Powell, ‘The Impact of Asset Repurchases and Issues in an Experimental Market’, Review of Finance.

Hirota, Huber, Stöckl and Sunder, 'Speculation and Price Indeterminacy in Financial Markets'.

Holmen, Kirchler and Kleinlercher, 'Do option-like incentives induce overvaluation? Evidence from experimental asset markets', Journal of Economic Dynamics and Control.

Jaworski & Kimbrough, 'Bubbles, Crashes and Endogenous Uncertainty in Linked Asset and Product Markets'.

Keser and Markstädter, 'Informational Asymmetries in Laboratory Asset Markets with State-Dependent Fundamentals'.

Kleinlercher, Huber and Kirchler, ‘The Impact of Different Incentive Schemes on Asset Prices’, European Economic Review.

Kocher, Lucks and Schindler, 'Unleashing Animal Spirits - Self-Control and Overpricing in Experimental Asset Markets'.

Levine, Apfelbaum, Bernard, Bartelt, Zajac, and Stark, 'Ethnic diversity deflates price bubbles'. Proceedings of the National Academy of Sciences.

Lugovskyy, Puzzello, Tucker and Williams, 'Asset-Holdings Caps and Bubbles in Experimental Asset Markets', Journal of Economic Behavior & Organization.

Noussair and Tucker, 'Cash Inflows and Bubbles in Asset Markets with Constant Fundamental Values'.

Shachat and Wang, 'Are You Experienced?'.

Smith, 'New Insights into Old Discoveries: Two Kinds of Markets', International Journal of the Economics of Business.

Smith, Lorenz, King, Montague, and Camerer, 'Irrational exuberance and neural crash warning signals during endogenous experimental market bubbles', Proceedings of the National Academy of Sciences.

Stöckl, Huber and Kirchler, 'Multi-period experimental asset markets with distinct fundamental value regimes', Experimental Economics.

Stoian, 'Public Messages and Asset Prices', Atlantic Economic Journal.

2013

Akiyama, Hanaki and Ishikawa, ‘It Is Not Just Confusion! Strategic Uncertainty in an Experimental Asset Market’.

Breaban and Noussair, 'Emotional State and Market Behavior'.

Chan, Lei and Vesely, ‘Differentiated Assets: An Experimental Study on Bubbles’, Economic Inquiry.

Fischbacher, Hens and Zeisberger, ‘The Impact of Monetary Policy on Stock Market Bubbles and Trading Behavior: Evidence from the Lab’, Journal of Economic Dynamics and Control.

Füllbrunn and Haruvy, ‘The Dividend Puzzle: A Laboratory Investigation’, Research in Experimental Economics.

Giusti, Noussair and Voth, ‘Recreating the South Sea Bubble: Lessons from an Experiment in Financial History’.

Palan, ‘A Review of Bubbles and Crashes in Experimental Asset Markets’, Journal of Economic Surveys.

Palan, 'A Review of Research into Smith, Suchanek and Williams Markets'.

2012

Ackert, Kluger and Qi, 'Irrationality and beliefs in a laboratory asset market: Is it me or is it you?', Journal of Economic Behavior & Organization.

Akiyama, Hanaki and Ishikawa, 'Effect of Uncertainty About Others’ Rationality in Experimental Asset Markets: An Experimental Analysis'.

Cheung and Palan, ‘Two Heads Are Less Bubbly than One: Team Decision-Making in an Experimental Asset Market’, Experimental Economics.

Füllbrunn and Neugebauer, 'Margin trading bans in experimental asset markets'.

Haruvy and Schoenberg, ‘Relative Performance Information in Asset Markets: An Experimental Approach’, Journal of Economic Psychology.

Hauser and Huber, ‘Short-Selling Constraints as Cause for Price Distortions: An Experimental Study’, Journal of International Money and Finance.

Huber and Kirchler, ‘The Impact of Instructions and Procedure on Reducing Confusion and Bubbles in Experimental Asset Markets’, Experimental Economics.

Johnson and Joyce, ‘Bubbles and Crashes Revisited’, Review of Economics & Finance.

Kirchler, Huber and Stöckl, ‘Thar She Bursts: Reducing Confusion Reduces Bubbles’, American Economic Review.

Lahav and Meer, 'The Effect of Induced Mood on Prices in Asset Markets - Experimental Evidence'.

Lin and Rassenti, 'Are under- and over-reaction the same matter? Experimental evidence', Journal of Economic Behavior & Organization.

Noussair, Richter and Tyran, ‘Money Illusion and Nominal Inertia in Experimental Asset Markets’, Journal of Behavioral Finance.

Palfrey and Wang, 'Speculative Overpricing in Asset Markets With Information Flows', Econometrica.

Robin, Straznicka and Villeval, 'Bubbles and Incentives : An Experiment on Asset Markets'.

Smith, 'Private Information and Overconfidence in Experimental Asset Markets'.

Xie and Zhang, 'Bubbles and Experience: An Experiment with a Steady Inflow of New Traders'.

2011

Ackert, Mazzotta and Qi, 'An Experimental Investigation of Asset Pricing in Segmented Markets', Southern Economic Journal.

Alfarano, Morone and Camacho, 'The role of public and private information in a laboratory financial market'.

Ang, Diavatopoulos and Schwarz, ‘The Creation and Control of Speculative Bubbles in a Laboratory Setting’, Handbook of Quantitative Finance and Risk Management.

Dickhaut, Lin, Porter and Smith, 'Commodity durability, trader specialization, and market performance', Proceedings of the National Academy of Sciences.

Fiedler, 'Experience and Confidence in an Internet-Based Asset Market Experiment', Southern Economic Journal.

Heap and Zizzo, 'Emotions and Chat in a Financial Markets Experiment'.

Huber, Angerer and Kirchler, 'Experimental asset markets with endogenous choice of costly asymmetric information', Experimental Economics.

Kirchler, Huber and Kleinlercher, 'Market microstructure matters when imposing a Tobin tax—Evidence from the lab', Journal of Economic Behavior & Organization.

Lahav, ‘Price Patterns in Experimental Asset Markets with Long Horizon’, Journal of Behavioral Finance.

Oechssler, Schmidt and Schnedler, ‘On the Ingredients for Bubble Formation: Informed Traders and Communication’, Journal of Economic Dynamics and Control.

Michailova and Schmidt, ‘Overconfidence and Bubbles in Experimental Asset Markets’.

Shachat and Srinivasan, 'Informational Price Cascades and Non-Aggregation of Asymmetric Information in Experimental Asset Markets'.

Strážnická and Weber, 'Does Skewness Matter? Evidence from Experimental Asset Markets'.

Sutter, Kirchler and Huber, 'Bubbles and Information: An Experiment', Management Science.

2010

Corgnet, Kujal and Porter, ‘The Effect of Reliability, Content and Timing of Public Announcements on Asset Trading Behavior’, Journal of Economic Behavior & Organization.

Kirchler, 'Partial knowledge is a dangerous thing – On the value of asymmetric fundamental information in asset markets', Journal of Economic Psychology.

Noussair and Powell, ‘Peaks and Valleys: Price Discovery in Experimental Asset Markets with Non-Monotonic Fundamentals’, Journal of Economic Studies.

Palan, ‘Digital Options and Efficiency in Experimental Asset Markets’, Journal of Economic Behavior & Organization.

Stöckl and Kirchler, 'Trading strategies and trading profits in experimental asset markets with cumulative information'.

Stöckl, Huber and Kirchler, ‘Bubble Measures in Experimental Asset Markets’, Experimental Economics.

2009

Ackert, Charupat, Deaves and Kluger, ‘Probability Judgment Error and Speculation in Laboratory Asset Market Bubbles’, Journal of Financial and Quantitative Analysis.

Bostian and Holt, ‘Price Bubbles with Discounting: A Web-Based Classroom Experiment’, The Journal of Economic Education.

Childs, 'Rate of return parity and currency crises in experimental asset markets', Journal of International Financial Markets, Institutions and Money.

Kirchler, 'Underreaction to fundamental information and asymmetry in mispricing between bullish and bearish markets. An experimental study', Journal of Economic Dynamics and Control.

Kirchler and Huber, 'An exploration of commonly observed stylized facts with data from experimental asset markets', Physica A: Statistical Mechanics and its Applications.

Kirchler, Huber and Stöckl, 'Bubble or No Bubble - The Impact of Market Model on the Formation of Price Bubbles in Experimental Asset Markets'.

Lei and Vesely, ‘Market Efficiency: Evidence from a No-Bubble Asset Market Experiment’, Pacific Economic Review.

Lugovskyy, Puzzello and Tucker, 'An Experimental Study of Bubble Formation in Asset Markets Using the Tâtonnement Pricing Mechanism'.

Qi and Ochs, 'Information Use and Transference among Legally Separated Share Markets-An Experimental Approach', Southern Economic Journal.

2008

Caginalp and Illieva, 'The dynamics of trader motivations in asset bubbles', Journal of Economic Behavior and Organization.

Hussam, Porter and Smith, ‘Thar She Blows: Can Bubbles Be Rekindled with Experienced Subjects?’, American Economic Review.

Morris, ‘Relative Wealth Concerns and Asset Bubbles: An Experimental Approach’.

Noussair and Plott, 'Bubbles and Crashes in Experimental Asset Markets: Common Knowledge Failure?'.

Porter and Smith, ‘Price Bubbles’, Handbook of Experimental Economics Results.

Veiga and Vorsatz, 'The Effect of Short-Selling of the Aggregation of Information in an Experimental Asset Market'.

Williams, ‘Price Bubbles in Large Financial Asset Markets’, Handbook of Experimental Economics Results.

2007

Fellner and Maciejovsky, 'Risk attitude and market behavior: Evidence from experimental asset markets', Journal of Economic Psychology.

Haruvy, Lahav and Noussair, ‘Traders’ Expectations in Asset Markets: Experimental Evidence’, American Economic Review.

Hirota and Sunder, 'Price bubbles sans dividend anchors: Evidence from laboratory stock markets', Journal of Economic Dynamics and Control.

Levine and Zajac, 'The Institutional Nature of Price Bubbles'.

Oechssler, Schmidt and Schnedler, 'Asset Bubbles Without Dividends: An Experiment'.

2006

Ackert, Charupat, Church and Deaves, ‘Margin, Short Selling, and Lotteries in Experimental Asset Markets’, Southern Economic Journal.

Ackert, Charupat, Church and Deaves, 'An experimental examination of the house money effect in a multi-period setting', Experimental Economics.

Alfarano, Barreda-Tarrazona and Camacho-Cuena, 'On the role of heterogeneous and imperfect information in a laboratory financial market', Central European Journal of Operations Research.

Childs and Mestelman, ‘Rate-of-Return Parity in Experimental Asset Markets’, Review of International Economics.

Davies, ‘Irrational Gloominess in the Laboratory’.

Haruvy and Noussair, ‘The Effect of Short Selling on Bubbles and Crashes in Experimental Spot Asset Markets’, The Journal of Finance.

Noussair and Tucker, ‘Futures Markets and Bubble Formation in Experimental Asset Markets’, Pacific Economic Review.

2005, Bostian, Goeree and Holt, ‘Price Bubbles in Asset Market Experiments with a Flat Fundamental Value’.

2005, Budescu and Maciejovsky, 'The Effect of Payoff Feedback and Information Pooling on Reasoning Errors: Evidence from Experimental Markets', Management Science.

2005, Dufwenberg, Lindqvist and Moore, ‘Bubbles and Experience: An Experiment’, American Economic Review.

2005, Hey and Morone, 'Do Markets Drive Out Lemmings—or Vice Versa?', Economica.

2004, Anderson, 'How Institutions Affect Outcomes in Laboratory Tradable Fishing Allowance Systems', Agricultural and Resource Economics Review.

2004, Stevens and Williams, 'Inefficiency in Earnings Forecasts: Experimental Evidence of Reactions to Positive vs. Negative Information', Experimental Economics.

2003, Isaac and James, ‘Boundaries of the Tournament Pricing Effect in Asset Markets: Evidence from Experimental Markets’, Southern Economic Journal.

2002, Caginalp, Ilieva, Porter and Smith, ‘Do Speculative Stocks Lower Prices and Increase Volatility of Value Stocks?’, Journal of Psychology and Financial Markets.

2002, Kirchler and Maciejovsky, ‘Simultaneous Over- and Underconfidence: Evidence from Experimental Asset Markets’, Journal of Risk and Uncertainty.

2002, Lei, Noussair and Plott, 'Asset Bubbles and Rationality: Additional Evidence From Capital Gains Tax Experiments'.

2002, Miller, ‘Can Markets Learn to Avoid Bubbles?’, Journal of Psychology and Financial Markets.

2001, Caginalp, Porter and Smith, ‘Financial Bubbles: Excess Cash, Momentum, and Incomplete Information’, Journal of Psychology and Financial Markets.

2001, Lei, Noussair and Plott, ‘Nonspeculative Bubbles in Experimental Asset Markets: Lack of Common Knowledge of Rationality vs. Actual Irrationality’, Econometrica.

2001, Noussair, Robin and Ruffieux, ‘Price Bubbles in Laboratory Asset Markets with Constant Fundamental Values’, Experimental Economics.

2000, Smith, van Boening and Wellford, 'Dividend Timing and Behavior in Laboratory Asset Markets', Economic Theory.

2000, Caginalp, Porter and Smith, ‘Momentum and Overreaction in Experimental Asset Markets’, International Journal of Industrial Organization.

2000, Caginalp, Porter and Smith, ‘Overreactions, Momentum, Liquidity, and Price Bubbles in Laboratory and Field Asset Markets’, Journal of Psychology and Financial Markets.

2000, Fisher and Kelly, ‘Experimental Foreign Exchange Markets’, Pacific Economic Review.

2000, James and Isaac, ‘Asset Markets: How They Are Affected by Tournament Incentives for Individuals’, American Economic Review.

1999, Krahnen, Rieck and Theissen, 'Insider trading and portfolio structure in experimental asset markets with a long-lived asset', European Journal of Finance.

1999, Gillette, Stevens, Watts and Williams, 'Price and Volume Reactions to Public Information Releases: An Experimental Approach Incorporating Traders' Subjective Beliefs', Contemporary Accounting Research.

1998, Ackert and Church, 'Information dissemination and the distribution of wealth: Evidence from experimental asset markets', Journal of Economic Behavior & Organization.

1998, Ackert and Church, 'The Effect of Subject Pool and Design Experience on Rationality in Experimental Asset Markets'.

1998, Ball and Holt, ‘Classroom Games: Speculation and Bubbles in an Asset Market’, Journal of Economic Perspectives.

1998, Caginalp, Porter and Smith, ‘Initial Cash/asset Ratio and Asset Prices: An Experimental Study’, Proceedings of the National Academy of Sciences.

1995, Sunder, 'Experimental asset markets: a survey', Handbook of Experimental Economics.

1995, Porter and Smith, ‘Futures Contracting and Dividend Uncertainty in Experimental Asset Markets’, The Journal of Business.

1994, Porter and Smith, ‘Stock Market Bubbles in the Laboratory’, Applied Mathematical Finance.

1993, van Boening, Williams and LaMaster, ‘Price Bubbles and Crashes in Experimental Call Markets’, Economics Letters.

1993, Camerer and Weigelt, ‘Convergence in Experimental Double Auctions for Stochastically Live Assets’, The Double Auction Market: Institutions, Theories, and Evidence.

1993, Copeland and Friedman, 'Partial Revelation of Information in Experimental Asset Markets', Journal of Finance.

1993, King, Smith, Williams and van Boening, ‘The Robustness of Bubbles and Crashes in Experimental Stock Markets’, Non Linear Dynamics and Evolutionary Economics.

1991, King, ‘Private Information Acquisition in Experimental Markets Prone to Bubble and Crash’, Journal of Financial Research.

1990, Long, Shleifer, Summers and Waldmann, ‘Positive Feedback Investment Strategies and Destabilizing Rational Speculation’, The Journal of Finance.

1988, Plott and Sunder, 'Rational Expectations and the Aggregation of Diverse Information in Laboratory Security Markets', Econometrica.

1988, Smith, Suchanek and Williams, ‘Bubbles, Crashes, and Endogenous Expectations in Experimental Spot Asset Markets’, Econometrica.

1985, Ang and Schwarz, 'Risk Aversion and Information Structure: An Experimental Study of Price Variability in the Securities Markets', Journal of Finance.

1984, Forsythe, Palfrey and Plott, 'Futures markets and informational efficiency: A laboratory examination', Journal of Finance.

1982, Forsythe, Palfrey and Plott, 'Asset valuation in an experimental market', Econometrica.

1982, Plott and Sunder, 'Efficiency of Experimental Security Markets with Insider Information: An Application of Rational-Expectations Models', Journal of Political Economy.

1965, Smith, 'Experimental Auction Markets and the Walrasian Hypothesis', Journal of Political Economy.

1962, Smith, 'An Experimental Study of Competitive Market Behavior', Journal of Political Economy.

1948, Chamberlin, 'An Experimental Imperfect Market', Journal of Political Economy.