The experimental approach was applied to test the value of historical return series in technical prediction. Return sequences were randomly drawn cross-sectionally and over time from S&P500 records and participants were asked to predict the 13th realization from 12 preceding returns. The...

The field experimental approach was utilized to collect expectations-arbitrage portfolios from competent investors in late 2008 where stock prices shrunk by 50%. Positions were closed after three months and the four-factor model was applied to characterize strategies and derive risk-adjusted...

We present experimental evidence suggesting that human subjects dislike complexity in choice with uncertainty. Our results suggest that the probability of choosing a given alternative decreases with the relative complexity of that alternative. Complexity increases the noise in the choice process...

Recent studies have questioned the existence and interpretation of a possible gap between Willingness-To-Pay (WTP) and Willingness-To-Accept (WTA). The study analyses the bidding patterns in buying and selling lottery tickets that represent financial assets using second price auction, and then...

In this study, we compare the subjective discount rate for Israeli Jews and Arabs. All the subjects were bank customers, who were asked to bid and ask prices for delayed fixed amounts and for lotteries. The two populations live in the same country under the same laws. Nevertheless, according to...

We present a multi-trial experiment that extends the classic experiment of Thaler et al. (1997) by adding short-term information to long-term investment. The allocation to the risky asset is reduced in the long-term, when we add short-term information.

The current field study uses data collected after the 2009 war between Israel and the Hamas militias in the Gaza Strip ended. The study compares recalled emotions and perceived risks among two groups of students, all of whom were exposed to rocket attacks. Individuals in the ``left the war...

This paper presents and analyzes the results of a decision‐making experiment in inventory management under uncertainty. The experiment included 81 participants who played the role of a small car importer facing random demand as in the (Q,R) model. The results show strong evidence of learning...