The International Food Policy Research Institute’s International Model for Policy Analysis of Agricultural Commodities and Trade (IMPACT) supports analysis of long-term challenges and opportunities for food, agriculture, and natural resources at global and regional scales. IMPACT is...

We revisit the effect of traders' experience on price bubbles by introducing either one-third or two-thirds steady inflow of new traders in the repeated experimental asset markets. We find that bubbles are not significantly abated by the third repetition of the market with the inflow of new...

We study indefinitely-lived assets in experimental markets and find that the traded prices of these assets are on average about 40% of the risk neutral fundamental value. Neither uncertainty about the value of total dividend payments nor horizon uncertainty about the duration of trade can...