Kirchler, Michael; Huber, Jurgen; Stockl, Thomas - In: American Economic Review 102 (2012) 2, pp. 865-83
To explore why bubbles frequently emerge in the experimental asset market model of Smith, Suchanek, and Williams (1988), we vary the fundamental value process (constant or declining) and the cash-to-asset value ratio (constant or increasing). We observe high mispricing in treatments with a...