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...

Purpose – The purpose of this paper is to develop a model of innovative industries which face coopetition: firms compete while committing at the same time to R&D joint ventures and other cooperative agreements. These joint activities are likely to occur in presence of complementarities on...