Tournament compensation of asset traders has been shown to promote deconvergence from intrinsic value pricing in an experimental asset market where all traders are so compensated (James and Isaac 2000). This paper explores the extent of this effect as experimental design parameters—proportion...

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This paper estimates individual risk preferences based upon data that are generated by the same individuals acting in different institutions. The results show that the (estimated) numerical values of individuals' implied risk parameters are not stable within individuals across institutions....