'Until not much more than 20 years ago, economists frequently lamented the fact that they were limited in their empirical analyses to statistical assessments of market behavior, because controlled economic experiments were (thought to be) infeasible, unethical, or both. Much has changed in the...

The first essay “Informational Asymmetries in Laboratory Asset Markets with State-Dependent Fundamentals” investigates the formation of market prices in a new experimental setting involving multi-period call-auction asset markets. In this paper, we are particularly interested in two...

The thesis answers several questions concerning how people behave in an economic context if behavioral norms and rules are not obvious. In particular, it is investigated how subjects behave if other people in the role of third parties are involved or if the subjects themselves have the role of...