Ackert, Lucy F.; Charupat, Narat; Deaves, Richard; … - Federal Reserve Bank of Atlanta - 2006
can detect both irrationality and speculative behavior. The specific form of irrationality we investigate is probability … prices of identically paying assets in multiperiod versus single-period markets. When these tests indicate the presence of …In twelve sessions conducted in a typical bubble-generating experimental environment, we design a pair of assets that …