by a large literature. Here we test whether the occurrence of bubbles depends on the experimental subjects' cognitive … sophistication. In a two-part experiment, we first run a battery of tests to assess the subjects' cognitive sophistication and …

Do women and men behave differently in financial asset markets? Our results from an asset market experiment using the … period. Additional analysis shows the results are not due to differences in risk aversion, personality, or math skills …

What people perceive as risk clearly goes beyond variance. Several papers have shown that, e.g., probability of loss … plays a more prominent role in perceived risk than does variance. We are the first to explore how individual risk perception … distributions which they then trade on. We first elicit subjects' individual risk perceptions, finding results in line with earlier …

-varying volatility are preferred to the long-run risk model. We analyze asset pricing implications of the estimated models …