As a rule, economic models assume that economic agents are rational and maximise their utility. Experimental economic research in particular attempts to verify this assumption under artificial conditions using laboratory tests. Experiment results must be carefully interpreted, as laboratory...

Volkswirtschaftliche Modelle unterstellen im Regelfall rationale, nutzenmaximierende Wirtschaftssubjekte. Insbesondere die experimentelle Wirtschaftsforschung versucht mit Hilfe von Laborexperimenten – also unter künstlichen Bedingungen -, diese Verhaltensannahme zu verifizieren bzw. zu...

This paper investigates the relative performance of local and foreign financial analysts on Latin American emerging markets.