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Price discovery and gains from trade in asset markets with insider trading
Brünner, Tobias; Levínský, René - 2020
novel call auction model with insider information. Our model predicts that more insider information improves informational … of insider information the call auction performs worse than continuous double auction. Testing these hypotheses in the … lab we find that insider information increases informational efficiency of call auction prices but does not decrease the …
Persistent link: https://www.econbiz.de/10012437539
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Fragility of Information Cascades:An Experimental Study using Elicited Beliefs
Koessler, Frédéric; Ziegelmeyer, Anthony; Bracht, Jürgen - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2008
This paper examines the occurrence and fragility of information cascades in laboratory experiments.One group of low informed subjects make predictions in sequence. In a matchedpairs design, another set of high informed subjects observe the decisions of the first group andmake predictions....
Persistent link: https://www.econbiz.de/10005866431
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Does Cascade Behavior Reflect Bayesian Updating? - An Experimental Study
Oberhammer, Clemens; Stiehler, Andreas - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2003
We examine the explanatory power of cascade models by implementing the BDM-mechanism in a simple cascade experiment in …
Persistent link: https://www.econbiz.de/10005866982
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Size matters - when it comes to lies
Eisenkopf, Gerald; Gurtoviy, Ruslan; Utikal, Verena - Thurgauer Wirtschaftsinstitut <Kreuzlingen> - 2011
A small lie appears trivial but it obviously violates moral commandments. We analyze whetherthe preference for others’ truth telling is absolute or depends on the size of a lie. In a laboratoryexperiment we compare punishment for different sizes of lies controlling for the resultingeconomic...
Persistent link: https://www.econbiz.de/10009302673
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On the Acceptance of Apologies
Fischbacher, Urs; Utikal, Verena - Thurgauer Wirtschaftsinstitut <Kreuzlingen> - 2010
laboratory experiment we find that harmdoers use apologies inparticular if they fear punishment and when their intentions cannot …
Persistent link: https://www.econbiz.de/10009302678
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Do Individuals Recognize Cascade Behavior of Others? - An Experimental study
Stiehler, Andreas - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2003
In a cascade experiment subjects are confronted with artificial predecessors prdecting in line with the BHW model …
Persistent link: https://www.econbiz.de/10005866980
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Do prices in the unmediated call auction reflect insider information?: an experimental analysis
Brünner, Tobias; Levínský, René - 2008
The unmediated call auction is a useful trading mechanism to aggregate dispersed information. Its ability to … simple call auction game where both auction prices and limit prices of uninformed traders reflect potential insider … information. The predictions of the model are tested in the laboratory. While an insider improves the call auction outcomes in …
Persistent link: https://www.econbiz.de/10010275685
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Informational asymmetries in laboratory asset markets with state-dependent fundamentals
Keser, Claudia; Markstädter, Andreas - 2014
We investigate the formation of market prices in a new experimental setting involving multi-period call-auction asset …
Persistent link: https://www.econbiz.de/10010353591
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The interplay between public and private information in asset markets : theoretical and experimental approaches
Alfarano, Simone; Camacho-Cuena, Eva; Petrovic, Marko; … - 2014
In this paper we will give an overview of the more relevant results on the theoretical and experimental research related to public and private information dissemination and aggregation in asset markets, focusing mainly on the contemporaneous presence of public and private information and its...
Persistent link: https://www.econbiz.de/10010406743
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Informational asymmetries in laboratory asset markets with state-dependent fundamentals
Keser, Claudia; Markstädter, Andreas - 2014 - This version: September 25, 2014
We investigate the formation of market prices in a new experimental setting involving multi-period call-auction asset …
Persistent link: https://www.econbiz.de/10010429127