In this paper we use the SMS instant messaging application to examine the effect of notifications on time preferences. To do so we conducted a laboratory experiment with three different groups. Participants in the first (second) treatment group received SMS messages with a high (low) degree of...

The field experimental approach was utilized to collect expectations-arbitrage portfolios from competent investors in late 2008 where stock prices shrunk by 50%. Positions were closed after 3 months and the 4-factor model was applied to characterize strategies and derive risk-adjusted returns....