Martin Holmen

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One potential reason for bubbles evolving prior to the financial crisis was excessive risk taking stemming from option-like incentive schemes in financial institutions. By running laboratory asset markets, we investigate the impact of option-like incentives on price formation and trading behavior. The main results are that (i) we observe significantly(More)
A Ab bs st tr ra ac ct t The paper studies the relation between valuation and corporate investment level. It provides an insight to the q-model and its implications for investment level. By acknowledge the q-model's empirical shortcomings it questions whether adjustments for volatility will strengthen the q-model empirically. It argues: as volatility is a(More)
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