The payday loan industry is one of the fastest growing segments of the consumer financial services market in the United States. The purpose of our study is to design an environment similar to the one that payday loan customers face. We then conduct a laboratory experiment to examine what effect,...

This paper investigates the effect of dividend timing on price bubbles and endogenous expectations in twenty-six laboratory asset markets. In ten quot;A1quot; markets, a single dividend is paid at the end of the trading horizon. In nine quot;A2quot; markets, dividends are paid at the end of each...