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Traders' Expectations in Asset Markets: Experimental Evidence
We elicit traders' predictions of future price trajectories in repeated experimental markets for a 15-period-lived asset. We find that individuals' beliefs about prices are adaptive, and primarilyExpand
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Price Patterns in Experimental Asset Markets with Long Horizon
We investigate the generality of the bubble and crash price pattern observed in previous asset market experiments. The deviation of prices from fundamental values can be explained by either a failureExpand
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Heterogeneity of Beliefs and Trade in Experimental Asset Markets
We investigate the relationship between traders’ expectations and market outcomes with experimental asset market data. The data show that those who have high price expectations buy more frequentlyExpand
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The Effective Tax Rate of the Largest US and EU Multinationals
This paper compares the effective tax rates of the 100 largest US multinationals to the 100 largest EU multinationals for the period 2001-2010, based on financial disclosures. The paper finds thatExpand
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The Effect of Induced Mood on Prices in Asset Markets - Experimental Evidence
In this paper we study the effect of induced positive mood on price patterns in experimental asset markets. We conduct experimental asset markets where subjects go through a mood induction procedureExpand
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Beliefs and social behavior in a multi-period ultimatum game
We conduct a multi-period ultimatum game in which we elicit players' beliefs. Responders do not predict accurately the amount that will be offered to them, and do not get better in their predictionsExpand
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There's No Smoke without Fire: Equity Returns Response to Indictment Filing
Markets react to new information and it is widely expected that the publication of negative news regarding a firm would negatively affect the returns on its equity. This work employs event studyExpand
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A better ‘autopilot’ than Sell-in-May? 40 years in the US market
Sell-in-May, known also as the Halloween effect, continues to persist in many parts of the world and to puzzle researchers and practitioners. Prior research found that in a few certain countries,Expand
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The Effect of Induced Mood on Prices in Experimental Asset Markets
In this paper we study the effect of induced positive mood on price patterns in experimental asset markets. Smith, Suchanek and Williams (1988) in their seminal paper documented bubbles and crashesExpand
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Thinking near and far: Modeling the formation of traders’ beliefs in asset markets using experimental data
We present a dynamic model that expresses how traders use historical price patterns and recent trends and the weights they assign to each information sets when predicting future market behavior. WeExpand
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