Pricing Indefinitely Lived Assets: Experimental Evidence
Published Online:13 Mar 2024https://doi.org/10.1287/mnsc.2021.03059
References
- (2009) Probability judgment error and speculation in laboratory asset market bubbles. J. Financial Quant. Anal. 44(3):719–744.Crossref, Google Scholar
- (2016) Lucas in the laboratory. J. Finance 71(6):2727–2779.Crossref, Google Scholar
- (1998) Classroom games: Speculation and bubbles in an asset market. J. Econom. Perspect. 12(1):207–218.Crossref, Google Scholar
- (2014) Do individuals have preferences used in macro-finance models? An experimental investigation. Management Sci. 60(4):939–958.Link, Google Scholar
- (2022) Preferences for the resolution of risk and ambiguity. Working paper, Texas A&M University, College Station, TX and University of Sydney, Camperdown, NSW.Google Scholar
- (1998) Initial cash/asset ratio and asset prices: An experimental study. Proc. Natl. Acad. Sci. USA 95(2):756–761.Google Scholar
- (2001) Financial bubbles: Excess cash, momentum, and incomplete information. J. Psych. Financial Markets 2(2):88–99.Google Scholar
- (1994) Violations of the betweenness axiom and nonlinearity in probability. J. Risk Uncertainty 8(March):167–196.Crossref, Google Scholar
- (1993) Convergence in experimental double auctions for stochastically lived assets. Friedman D, ed. The Double Auction Market: Institutions, Theories, and Evidence (Addison-Wesley, Reading, MA), 355–396.Google Scholar
- (2018) Financial Decisions and Markets: A Course in Asset Pricing (Princeton University Press, Princeton, NJ).Google Scholar
- (2019) An Experimental test of the Lucas asset pricing model. Rev. Econom. Stud. 86(2):627–667.Crossref, Google Scholar
- (1989) Substitution, risk aversion, and the temporal behavior of consumption and asset returns: A theoretical framework. Econometrica 57(4):937–969.Crossref, Google Scholar
- (2018) Deflating asset price bubbles with leverage constraints and monetary policy. J. Econom. Behav. Organ. 155:1–27.Crossref, Google Scholar
- (2007) z-Tree: Zurich toolbox for ready-made economic experiments. Experiment. Econom. 10(2):171–178.Crossref, Google Scholar
- (2017) Infinitely repeated games in the laboratory: Four perspectives on discounting and random termination. Experiment. Econom. 20(June):279–308.Crossref, Google Scholar
- (2016) Interest on cash, fundamental value process, and bubble formation on experimental asset markets. J. Behav. Experiment. Finance 11(September):44–51.Crossref, Google Scholar
- (2004) An online recruitment system for economic experiments. Kremer K, Macho V, eds. Forschung und wissenschaftliches Rechnen (GWDG Bericht, Göttingen, Germany), 79–93.Google Scholar
- (2022) Sharing idiosyncratic risk even though prices are ‘wrong.’ J. Econom. Theory 200:105400.Crossref, Google Scholar
- (2006) The effect of short-selling on bubbles and crashes in experimental spot asset markets. J. Finance 61(3):1119–1157.Crossref, Google Scholar
- (2011) Intertemporal substitution and recursive smooth ambiguity preferences. Theoret. Econom. 6(3):423–472.Crossref, Google Scholar
- (2009) The leverage effect without leverage. Finance Res. Lett. 6(2):83–94.Crossref, Google Scholar
- (2002) Risk aversion and incentive effects. Amer. Econom. Rev. 92(5):1644–1655.Crossref, Google Scholar
- (2012) Thar she bursts—Reducing confusion reduces bubbles. Amer. Econom. Rev. 102(2):865–883.Crossref, Google Scholar
- (2021) Experience does not eliminate bubbles: Experimental evidence. Rev. Financial Stud. 34(9):4450–4485.Crossref, Google Scholar
- (2022) The role of the end time in experimental asset markets. Research Paper No. 22-32, Swiss Finance Institute, Zurich.Google Scholar
- (2015) Price convergence and fundamentals in asset markets with bankruptcy risk: An experiment. Internat. J. Behav. Accounting Finance 5(3/4):242–278.Crossref, Google Scholar
- (1978) Temporal resolution of uncertainty and dynamic choice theory. Econometrica 46(1):185–200.Crossref, Google Scholar
- (2022) Measuring preferences over the temporal resolution of consumption uncertainty. J. Econom. Theory 200(C):105379.Crossref, Google Scholar
- (2020) Preferences for the resolution of uncertainty and the timing of information. J. Econom. Theory 189(September):105090.Crossref, Google Scholar
- (2013) Experimental research on asset pricing. J. Econom. Surveys 27(3):554–569.Crossref, Google Scholar
- (2001) Price bubbles in laboratory asset markets with constant fundamental values. Experiment. Econom. 4:87–105.Crossref, Google Scholar
- (2009) Bubbles and Crashes in Experimental Asset Markets (Springer-Verlag, Berlin).Crossref, Google Scholar
- (2013) A review of bubbles and crashes in experimental asset markets. J. Econom. Surveys 27(3):570–588.Crossref, Google Scholar
- (1978) Equilibrium behavior and repeated play of the prisoners’ dilemma. J. Math. Psych. 17(2):189–198.Crossref, Google Scholar
- (1988) Bubbles, crashes, and endogenous expectations in experimental spot asset markets. Econometrica 56(5):1119–1151.Crossref, Google Scholar
- (2000) Dividend timing and behavior in laboratory asset markets. Econom. Theory 16(3):567–583.Crossref, Google Scholar
- (2010) Bubble measures in experimental asset markets. Experiment. Econom. 13(September):284–298.Crossref, Google Scholar
- (1992) Advances in prospect theory: Cumulative representation of uncertainty. J. Risk Uncertainity 5(October):297–323.Crossref, Google Scholar
- (2018) An experimental study of bond market pricing. J. Finance 73(4):1857–1892.Crossref, Google Scholar
- (1996) Curvature of the probability weighting function. Management Sci. 42(12):1676–1690.Link, Google Scholar

