Attainment of rational expectations equilibria in asset markets calls for the price system to disseminate traders' private information to others. It is known that markets populated by asymmetrically-informed profit-motivated human traders can converge to rational expectations equilibria. This...

Attainment of rational expectations equilibria in asset markets calls for the price system to disseminate agents' private information to others. Markets populated by human agents are known to be capable of converging to rational expectations equilibria. This paper reports comparable market...

Corporate governance reforms and the threat-safeguard approach to auditor independence regulations are motivated by the assumption that disclosure by an agent (e.g., auditor) of a potential conflict of interest reduces bias in professional judgment. In this study, we conduct an experiment using...