The purposes of the paper are to determine whether governments underprice shares in fixed-price share-issue privatizations (SIPs) and, if so, what their motivations are for doing so. This paper develops three models of SIP underpricing: one based on revenue goals, one based on political goals...

Do women and men behave differently in financial asset markets? Our results from an asset market experiment using the Smith, Suchaneck, and Williams (1988) framework show marked gender difference in producing speculative price bubbles. Using 35 markets from different studies, a meta-analysis...

Combining experimental datasets from seven individual studies, including 255 asset markets with 2,031 participants, and 36,326 short-term price forecasts, we analyze the role of heterogeneity of beliefs in the organization of trading behavior by reproducing and reconsidering earlier experimental...