We experimentally explore how common knowledge provided by accounting systems affects investors' decision and shapes the formation of security prices over time. We design alternative accounting structures and run experiments in artificial security markets framed by these structures. In sessions...

ERPs offer a two-fold answer to the need for integration. The first is technical in nature, since the architecture of these programs is designed to ensure the compatibility of their software components and the transparency of their data. They also offer a dynamic approach, because ERPs are...

A number of phenomena are responsible for market crashes, but an analysis of investor behavior will tell us more than the valuation of securities on their fundamentals. In this regard, the interpretation of information seems to play a central role in these exceptional events. One specific type...

Plusieurs phénomènes sont à l'origine des crises boursières et l'aspect mimétique des comportements des investisseurs prévaudrait sur l'analyse fondamentale des valeurs. En ce sens, l'interprétation de l'information semble jouer un rôle central lors de ces évènements particuliers. Une...

Biondi et al. (2012) develop an analytical model to examine the emergent dynamic properties of share market price formation over time, capable to capture important stylized facts. These latter properties prove to be sensitive to regulatory regimes for fundamental information provision, as well...

Al fine di accompagnare l'introduzione di una forma sostenible di reddito universale di cittadinanza, questa contribuzione avanza una proposta di riforma monetaria basata su una moneta di decumulo. Questa valuta, digitale e transitoria, avrebbe come effetto di eludere la natura sperequativa e...

The current crisis puts at issue the self-regulated market system of monitoring and control. Claims for restoring the proper functioning of market economies in general, and financial markets in particular, call for either establishing new sets of rules or creating new supervising authorities....