NONSPECULATIVE BUBBLES IN EXPERIMENTAL ASSET MARKETS: LACK OF COMMON KNOWLEDGE OF RATIONALITY VS. ACTUAL IRRATIONALITY

By V. Lei, Charles N. Noussair, Charles R. Plott. 2001

522 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance, Safety Research

View Paper: https://www.semanticscholar.org/paper/8a628edb114ca2cb82bc75a8abd0ecb7487da8a9

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Citations in the corpus

Expectations and Bubbles in Asset Pricing Experiments (2008, background): “However, in a recent experimental paper Lei et al. (2001) show that, even if speculation is prohibited (that is, a subject can only buy or only sell the asset, but subjects are not able to do both in order to reap the capital gains), bubbles occur.”
Information Aggregation Mechanisms: Concept, Design and Implementation for a Sales Forecasting Problem (2002, background): “…markets that can equilibrate at patterns that are not fully revealing of information such as cascades (Anderson and Holt, 1997; Hung and Plott, 2001) or misleading such as mirages (Camerer and Wiegelt, 1991) or bubbles ( Smith et al, 1988; King et al. 1993; Porter and Smith, 994; Lei et al, 2001).”
Experimenter demand effects in economic experiments (2010, unknown): “For example, this paper refers below to a number of experiments on markets (including Sarin and Weber 1993; Lei et al. 2001 ; B all et al.2001 ;F ehr et al.1993 ;H uck et al.2004 and Noussair and Powell 2009); and to Eckel and Holt (1989), Forsythe et al. (1996) and Plott and Levine (1978) in relat”
The effects of telecommuting on productivity: An experimental examination. The role of dull and creative tasks (2012, background): “6 For references that show the importance of outside options in different settings see Engel (2010), Lei et al. (2001) and Palfrey and Pevnitskaya (2008).”
Credit Reporting, Relationship Banking, and Loan Repayment (2007, unknown): “In financial markets experiments have, for example, been used to study the emergence of bubbles (Smith et al., 1988; Lei et al., 2001), the dissemination of information (Sunder, 1992), herd behavior (Celan and Kariv, 2004), and more recently the emergence of banking relationships (Fehr and Zehnder, ”
Do short-term laboratory experiments provide valid descriptions of long-term economic interactions? A study of Cournot markets (2013, unknown): “For example, subjects in the lab may have a high tendency to engage in some activity (e.g., Lei et al. 2001), which may be different if subjects participate from home.”
Why real leisure really matters: incentive effects on real effort in the laboratory (2014, unknown): “While experimental market research (Lei et al., 2001; Fischbacher and Thöni, 2008) has provided support for the Active Participation Hypothesis, laboratory studies in experimental labor economics have yet to focus on effects of available alternatives such as “real-leisure”.”
Markets as Information Gathering Tools (2000, methodology): “The data from the experiment presented in Figure 4 are typical of patterns of results in general (Plott 2000).”