How do macro-financial shocks affect investor behavior and market dynamics? Recent evidence suggests long-lasting effects of personally experienced outcomes on investor beliefs and investment but also significant differences across older and younger generations. We formalize experience-based...

This paper presents a framework for how to incorporate prior sources of information into the design of a sequential experiment. These sources can include previous experiments, expert opinions, or the experimenter's own introspection. We formalize this problem using a multi-prior Bayesian...